The USD is mixed heading into the North American session, trading higher against the EUR, GBP, AUD, and NZD, but lower versus the JPY, CHF, and CAD. In the video above, I take a technical look at three of the major currency pairs against the greenback—the EURUSD, USDJPY, and GBPUSD.
The USDJPY initially moved lower after Japanese Prime Minister Sanae Takaichi said her government wants to encourage the Government Pension Investment Fund (GPIF) to invest more heavily in domestic financial assets, provided those decisions remain consistent with its fiduciary responsibility to pension beneficiaries. The comments were viewed as supportive of the yen, as greater domestic investment could eventually reduce capital flowing overseas. However, officials also stressed that there are no immediate plans to change GPIF’s strategic asset allocation, limiting the market impact. After the initial decline, the USDJPY rebounded after finding support at its converged 100- and 200-hour moving averages.
Meanwhile, the EURUSD and GBPUSD are beginning the North American session near their intraday lows, reflecting a firmer dollar. Both pairs are also testing their converged 100- and 200-hour moving averages. A break below those key technical levels would increase the bearish bias for the pairs and continue to erode the gains built earlier in the week.
Elsewhere, U.S. equity futures are pointing to a weaker open, with the Dow futures down 322 points, the S&P 500 futures down 75 points, and the Nasdaq futures lower by 548 points. Chips and AI stocks continue to get hit:
- Micron, -2.83% at $829.25
- Marvell technologies, -3.21%
- Intel, -4.19%
- AMD, -3. 24%
- SanDisk, -2.70%.
- Nebius -2.88%
- Nvidia -2.74%
Treasury yields are also moving lower, with the
- 2-year yield down 2.5 basis points to 4.130%
- 10-year yield down 4.7 basis points to 4.521%.
In commodities,
- WTI crude oil is up $1.81, or 2.27%, to $80.10
- Gold is up $14.10 or 0.36% at $3991.47. The price hass been trading above and below the $4000 level.
- Silver is down $0.33 or -0.58% at $55.20. The low prices today reached $54.77 the lowest level going back to November 28, 2025
- Bitcoin is down $978 at $63,100.
Pres. Trump last night laid out the plans for the next mid term election by continuing to advance the narrative of how the elections are rigged. Recall, it was two years ago, that he was propelled to the Presidency after the assassination attempt in Butler, Pennsylvania ahead of the November election.
This article was written by Greg Michalowski at investinglive.com.