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Dollar moves a little after the FOMC meeting minutes

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Greg Michalowski

The USD moved a little lower after the FOMC meeting minutes, but are giving up some of those declines.

  • USDJPY. The USDJPY is backed off from a test of its 100 hour moving average near 127.51. The current price is trading at 127.35 and traded as low as 127.22. Stay below the 100 hour moving average at 127.51 keeps the sellers happy. Recall from yesterday, the 100 hour moving average also stalled the rally (admittedly at a higher level).
  • EURUSD: The EURUSD has seen down and up price action. The high price moved to 1.0689. That took out the New York session high of 1.06865 but only by a few pips. The current price trades between the 100 bar moving average on the 5 minutes chart at 1.0664 and the 200 bar moving average on the same chart at 1.06799. The current price is trading at 1.0674. Traders are still looking for a shove in either direction.
  • GBPUSD:The GBPUSD moved to a new session high at 1.2578. The move took the price above the high price for the day at 1.2559, but the price has since moved back down to 1.2557 just below that old high. Earlier today the price traded below its 100 hour moving average and close below for the 1st time since May 16, but rotated back to the upside in the US morning session and stayed above that MA level (There was a test in the last hourly bar but buyers leaned against the MA line – see chart below)

GBPUSD

GBPUSD stays above its 100 hour moving average
  • NZDUSD: The NZDUSD is trading back in positive territory (above 0.6458) after dipping lower in the New York session and retesting its rising 100 hour moving average (currently at 0.64358). The low price for the day reached 0.6436. The price made a new US session high at 0.6477 after the FOMC minutes. The current price trades at 0.6471. As long as the price can remain above its 100 hour moving average the buyers are holding onto upside potential. Closer support will be eyed at the closing level from yesterday at 0.6458.

NZDUSD

NZDUSD holds above the 100 hour moving average

The US stocks are moving higher.

  • Dow industrial average is up 98.77 points or 0.31% at 32028.79
  • S&P is up 29.39 points or 0.75% at 3970.77
  •  NASDAQ  is currently up 148 points or 1.31% at 11412. The high price reached 1422.90

In other markets,:

  • gold is trading down $15.32 -0.82% at $1850.90
  • silver is down $0.14 -0.66% at $21.94
  • WTI  crude oil  futures are up $0.49 at $110.26
  • Bitcoin is trading just under 30,000 at $29,957

In the US debt market, yields are little changed

  • 2 year 2.514%, +2.9 basis points
  • 5 year 2.738%, -0.5 basis points
  • 10 year 2.760%, +0.6 basis points
  • 30 year 2.975%, +0.5 basis points

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