{"id":442120,"date":"2026-11-12T22:00:15","date_gmt":"2026-11-12T15:00:15","guid":{"rendered":"https:\/\/www.swingfish.trade\/blog\/market-news\/morning-kickstart-yields-climb-as-nvidia-slides-below-key-support-usd-mixed-442120\/"},"modified":"2026-11-12T22:00:15","modified_gmt":"2026-11-12T15:00:15","slug":"morning-kickstart-yields-climb-as-nvidia-slides-below-key-support-usd-mixed","status":"publish","type":"post","link":"https:\/\/www.swingfish.trade\/blog\/market-news\/morning-kickstart-yields-climb-as-nvidia-slides-below-key-support-usd-mixed-442120\/","title":{"rendered":"Morning Kickstart: Yields climb as Nvidia slides below key support. USD mixed."},"content":{"rendered":"<div>\n<p>Bond traders are back. Yields are higher. And Nvidia is giving stock traders another reason to pay attention.<\/p>\n<p>The U.S. Treasury market has reopened after the Veterans Day holiday with yields moving higher across the curve. The 10-year yield is back above 5%, while the larger increases are at the shorter end. That keeps interest rates firmly in the morning conversation as traders weigh the next economic releases.<\/p>\n<p>Nvidia is the other major focus, with shares down about 7.5% to $160.64 in early trading. The combination of higher yields and weakness in a leading AI stock creates a more difficult backdrop for technology shares heading into the North American session.<\/p>\n<p>In the morning video above, I take a look at the three major currency pairs\u2014EURUSD, USDJPY and GBPUSD\u2014from a technical perspective. For each pair, I outline the bias, the risk-defining levels and the targets that would give either the buyers or sellers more control.<\/p>\n<p>Nvidia: A key floor is at risk.<\/p>\n<p>Reuters reports that Nvidia\u2019s board was meeting to consider CEO Jensen Huang\u2019s future amid investigations and reports concerning his personal relationships. The immediate market issue is uncertainty over leadership and continuity at a company central to the AI trade. The reporting concerns a possible leadership change; it does not establish that a removal has occurred.<\/p>\n<p>For traders, the technical picture gives us a level to measure that uncertainty against.<\/p>\n<p>At $160.64, Nvidia is trading below the key swing area between $164.07 and $168.80. An opening around that price would put the shares below the entire support zone and give sellers the stronger hand.<\/p>\n<p>The next question is whether the price can stay below that broken floor after the opening volatility settles. A move back above $164.07 would be the first step toward repairing the damage. Buyers would then need to work through $168.80 to reclaim the full area.<\/p>\n<p>Until then, the former floor becomes overhead resistance. Stay below is more bearish.<\/p>\n<\/p>\n<p>Treasury yields: The shorter end leads higher.<\/p>\n<p>The supplied morning snapshot shows:<\/p>\n<ul>\n<li>\n<p>2-year yield: 4.7652%, up 3.82 basis points.<\/p>\n<\/li>\n<li>\n<p>5-year yield: 4.8426%, up 3.76 basis points.<\/p>\n<\/li>\n<li>\n<p>10-year yield: 5.0080%, up 1.90 basis points.<\/p>\n<\/li>\n<li>\n<p>30-year yield: 5.3557%, up 0.67 basis point.<\/p>\n<\/li>\n<\/ul>\n<p>The 5% level in the 10-year is an easy headline to follow. The broader message is that borrowing costs remain elevated. Higher yields can make investors more demanding about what they are willing to pay for future earnings, adding another consideration for technology stocks already dealing with Nvidia\u2019s decline.<\/p>\n<p>The dollar is mixed.<\/p>\n<p>The greenback is higher against the Australian dollar, pound, New Zealand dollar and euro, but lower against the Swiss franc, yen and Canadian dollar.<\/p>\n<p>The Australian dollar is the weakest against the USD in the supplied snapshot, with AUDUSD down 0.31%. The Swiss franc is the strongest, with USDCHF down 0.11%.<\/p>\n<p>The individual moves show:<\/p>\n<ul>\n<li>\n<p>EURUSD: 1.1086, down 0.03%.<\/p>\n<\/li>\n<li>\n<p>GBPUSD: 1.3267, down 0.10%.<\/p>\n<\/li>\n<li>\n<p>AUDUSD: 0.6825, down 0.31%.<\/p>\n<\/li>\n<li>\n<p>NZDUSD: 0.5560, down 0.04%.<\/p>\n<\/li>\n<li>\n<p>USDJPY: 159.64, down 0.08%.<\/p>\n<\/li>\n<li>\n<p>USDCHF: 0.8322, down 0.11%.<\/p>\n<\/li>\n<li>\n<p>USDCAD: 1.4244, down 0.05%.<\/p>\n<\/li>\n<\/ul>\n<p>Higher U.S. yields have not translated into a uniform dollar advance. That makes the individual currency charts important. Traders still need to see where buyers can hold support and where sellers can keep a lid on rallies.<\/p>\n<p>UK data: Better monthly growth, but sterling slips.<\/p>\n<p>The UK releases were generally better than expected on the monthly activity measures. GDP rose 0.2% versus expectations for no growth. Industrial production increased 0.3% versus a forecast decline of 0.4%, while manufacturing production rose 0.7% against expectations for a 0.5% fall.<\/p>\n<p>Construction output also beat expectations, rising 0.8% versus a flat forecast. Quarterly GDP growth matched the 0.7% estimate, compared with 0.5% previously.<\/p>\n<p>The trade figures were less encouraging. The goods deficit widened to \u00a322.3 billion versus \u00a319.2 billion expected and \u00a319.6 billion previously.<\/p>\n<p>Despite the better monthly activity readings, GBPUSD is modestly lower. Better data have not been enough to give the buyers sustained control in the morning snapshot.<\/p>\n<p>Currency ranges: Most pairs still have room to extend.<\/p>\n<p>Using the separate 22-day average-range benchmark (about a month of trading):<\/p>\n<ul>\n<li>\n<p>EURUSD: 36 pips versus a 69-pip average, or 52% completed.<\/p>\n<\/li>\n<li>\n<p>GBPUSD: 32 pips versus a 78-pip average, or 41% completed.<\/p>\n<\/li>\n<li>\n<p>USDJPY: 47 pips versus a 90-pip average, or 52% completed.<\/p>\n<\/li>\n<li>\n<p>USDCHF: 25 pips versus a 60-pip average, or 42% completed.<\/p>\n<\/li>\n<li>\n<p>USDCAD: 29 pips versus a 67-pip average, or 43% completed.<\/p>\n<\/li>\n<li>\n<p>AUDUSD: 40 pips versus a 54-pip average, or 74% completed.<\/p>\n<\/li>\n<li>\n<p>NZDUSD: 26 pips versus a 51-pip average, or 51% completed.<\/p>\n<\/li>\n<\/ul>\n<p>GBPUSD, USDCHF and USDCAD have completed the smallest portions of their normal month long average ranges. AUDUSD has traveled the furthest relative to its average.<\/p>\n<p>There is room for an extension in most pairs if the data or a technical break gives traders a reason to act. The average is a reference point, however. It does not require the market to travel a particular distance.<\/p>\n<p>European stocks: Mostly higher.<\/p>\n<p>European equities are holding a generally firmer tone in the NA morning snapshot:<\/p>\n<ul>\n<li>\n<p>Germany\u2019s DAX: up 0.63%.<\/p>\n<\/li>\n<li>\n<p>France\u2019s CAC 40: up 0.61%.<\/p>\n<\/li>\n<li>\n<p>UK\u2019s FTSE 100: up 0.24%.<\/p>\n<\/li>\n<li>\n<p>Spain\u2019s IBEX 35: up 0.05%.<\/p>\n<\/li>\n<li>\n<p>Euro Stoxx 50: up 0.04%.<\/p>\n<\/li>\n<li>\n<p>Italy\u2019s FTSE MIB: down 0.19%.<\/p>\n<\/li>\n<\/ul>\n<p>Commodities and Bitcoin: Broad declines.<\/p>\n<p>Crude oil is trading at $85.87, down $0.66 or 0.76%, after ranging between $85.20 and $87.54.<\/p>\n<p>Gold is also lower, trading near $3,935.83, down $51.87 or 1.30%. Silver is down 1.46% near $50.88, while copper is down 1.40% at $6.2020.<\/p>\n<p>Bitcoin is trading near $72,894, down $1,021 or 1.38%. Look for my video on the digital currency this morning.\u00a0<\/p>\n<p>Gold\u2019s decline comes alongside higher Treasury yields. The weakness also extends across industrial metals, oil and Bitcoin, giving traders several markets to monitor as North American participation builds.<\/p>\n<p>The North American calendar.<\/p>\n<ul>\n<li>\n<p>8:30 AM ET \u2013 Initial jobless claims \u2013 Forecast: 195K \u2013 Previous: 189K.<\/p>\n<\/li>\n<li>\n<p>8:30 AM ET \u2013 Continuing jobless claims \u2013 Forecast: 1.710 million \u2013 Previous: 1.718 million.<\/p>\n<\/li>\n<li>\n<p>10:00 AM ET \u2013 Existing home sales \u2013 Forecast: 3.85 million annualized \u2013 Previous: 3.99 million.<\/p>\n<\/li>\n<\/ul>\n<p>Claims provide the next check on labor-market conditions. A lower reading would indicate that layoffs remain limited; a higher reading would point toward some softening.<\/p>\n<p>Existing home sales will offer another look at housing activity against the backdrop of elevated borrowing costs.<\/p>\n<p>Watch the video and know the roadmap for your trading.\u00a0<\/p>\n<p>The video above looks at the EURUSD, USDJPY and GBPUSD and\u00a0develops the technical picture for each pair, including the moving averages and swing areas that define the bias, risk and targets.<\/p>\n<p>The trading lesson.<\/p>\n<p>Nvidia provides a practical example of why a swing area matters. A floor marks an area where buyers previously showed up. If the price opens below it, those buyers have to prove they can reclaim it.<\/p>\n<p>The headline creates the movement. The price action around the technical level helps us define the trade and limit the risk.<\/p>\n<p>                            This article was written by Greg Michalowski at investinglive.com.<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Bond traders are back. Yields are higher. And Nvidia is giving stock traders another reason to pay attention. The U.S. Treasury market has reopened after the Veterans Day holiday with yields moving&hellip;<\/p>\n","protected":false},"author":216,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[86],"tags":[],"class_list":["post-442120","post","type-post","status-publish","format-standard","hentry","category-market-news"],"_links":{"self":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/posts\/442120","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/users\/216"}],"replies":[{"embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/comments?post=442120"}],"version-history":[{"count":0,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/posts\/442120\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/media?parent=442120"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/categories?post=442120"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/tags?post=442120"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}