The USD is lower to kickstart Friday’trade. Iran sends delegation to Pakistan
The USD is softer heading into Friday trade, with the greenback slipping to fresh session lows as North American desks come in. Risk sentiment is getting a modest boost from headlines that Iran will send a delegation to Pakistan this weekend, helping lift equities after yesterday’s dip.
On the corporate side, Intel is the standout. Shares are sharply higher after a blowout earnings report, continuing a remarkable turnaround for what was not long ago viewed as a laggard in the chip space. Revenue came in at $13.6B (well above expectations), while EPS printed at $0.29 vs $0.01 expected, sending the stock up roughly 20% to $82.
That move also shines a spotlight on last August’s policy decision, when the U.S. government converted $8.9B in unspent CHIPS Act funding into a ~9.9% equity stake, acquiring 433.3 million shares at $20.47. At today’s price, that position is now worth approximately $35.5B, translating to a ~$26.6B gain (+299%) in under a year. Even when factoring in total exposure of about $11.1B, the return is still roughly +220%. The stake remains unrealized, with no indication yet on timing for any potential exit.
In broader markets, stocks are rebounding:
- Dow: -25 points
- S&P 500: +31 points (after -29 yesterday)
- Nasdaq: +361 points (after -219 yesterday)
In FX, the dollar is correcting lower after a stronger week:
- EURUSD, USDJPY, GBPUSD: All seeing USD weakness after prior gains
Rates are slightly lower but still elevated:
- 2-year yield: -0.5 bps
- 10-year yield: -1.0 bps (holding above 4.30%)
Meanwhile, crude oil is down about 1%, easing slightly after recent volatility.
In the video above, I break down the technicals for EURUSD, USDJPY, and GBPUSD, focusing on the key levels that are defining bias, risk, and targets as the dollar pulls back.
This article was written by Greg Michalowski at investinglive.com.提供 MainLink：Investinglive RSS Breaking News Feed
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