The EURUSD spiked above the swing high from 2023 at 1.1275 and the 61.8% of the move down from the January 2021 high which was near that level at 1.1271. The pair is now approaching the swing a swing area on the daily chart from November 2021 to February 2022 between 1.1482 to 1.15158. The high has reached 1.1473. The current price has come off and trades at 1.1345 which is still up 1.34% on the day (USD is lower).
The GBPUSD is higher but still below the highs from last week which saw the pair move to a high of 1.3206. The pair did break above a swing area between 1.3044 to 1.3058.
The US PPI data will be released today following the CPI data which was weaker than expectations yesterday. The PPI is expected to rise of 0.2% and 0.3% for the headline and the core measures. The YoY area expected at 3.3% and 3.6% respectively.
It seems like earnings season was just finished (it is honestly spread way too long), but it is here again (amonst all the uncertainty from tariffs). The banks traditionally kickstart the season and JPM and Bank of NY beat, Wells Fargo was mixed
Wells Fargo (WFC) Q1 2025: EPS $1.39 (BEAT; exp. $1.24), Revenue $20.15B (MISS; exp. $20.85B),
Looking at other markets to start the US trading day:
Crude oil is up modestly and $60.14Gold continues its rise to record levels. It is up $43 or 1.36% at $3218.58. The new all-time high price reached $3237.72.Silver is up $0.23 or 0.74% at $31.44.Bitcoin is trading up $2591 at $82,094Dow was 72 pointsS&P index +16.2 pointsNASDAQ index +57.18 points
Looking at the US yield curve, yields are now higher also in volatile trading:
2-year yield 3.859%, +1.3 basis points5-year yield 4.076%, +4.0 basis points10 year yield 4.446%, +5.4 basis points30 year yield 4.85%, +3.8 Point basis points This article was written by Greg Michalowski at www.forexlive.com. Read More Details
Finally We wish PressBee provided you with enough information of ( The USD is lower following China's increase in tariffs of US goods to 125% )
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