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USDCAD TECHS

Stronger In a Range

AUDUSD TECHS

Weaker In A Range

US TSYS SUMMARY

Ending The Week On A Soft Note

EURJPY TECHS

Bearish Risk Growing

USDJPY TECHS

Stronger, But Still Vulnerable

US

SP500 PE Ratio vs. CPI Inflation

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  • A sizeable miss in expectations for Nonfarm Payrolls has led to broad USD-selling, pressing the USD to the bottom-end of the G10 table and buoying precious metals and commodities.
  • EUR/USD spike takes the pair to new weekly highs of 1.2135, nearing the late April best of 1.2150. Move coincides with US Treasury yields falling sharply, taking the 10y yield lower by as much as 10bps to further pressure the greenback.
  • On net, equities have benefited, with the e-mini S&P hitting new daily and all-time highs at 4,214.00 as markets anticipate extended Fed stimulus, with near-term taper concerns now likely put on the back burner.