The USD is mixed to start the NA session. What are the technicals telling traders?
The USD is mixed to start the new trading day with the NZD vs the USD as the biggest mover at the greenback -0.42% on the day. Meanwhile the USD is higher by 0.24% vs the JPY as buyers in the USDJPY return after the decline on Friday. The USD is lower vs the EUR (-0.13%) and higher vs the GBP (+0.10%) as the markets deal with the shifting winds of war, and it's implications. IN the video above, I take a look at the 3 major currency pairs to kickstart the North American session for the day and the trading week. The key events this week? US CPI at 8:30 AM tomorrow and Fed Chair Warsh's testimony on Capitol Hill on Tueday and Wednesday starting at 10 AM ET. Tensions between the United States and Iran escalated sharply over the weekend as the fragile ceasefire effectively collapsed and both sides returned to direct military action. Iran launched missile and drone attacks against U.S. military facilities across the region, while the U.S. responded with strikes on Iranian air-defense systems, radar sites, and naval assets. The Strait of Hormuz remains the central concern for markets, with commercial shipping activity falling as insurers and operators reassess the risks and Iran signals a greater willingness to challenge passage through the key energy corridor. Diplomatic efforts by regional mediators continue, but progress appears limited. For markets, the main focus is whether the conflict broadens further and whether oil flows through Hormuz face a more sustained disruption.
US stock futures are implying a lower open with the
- Dow -46 points
- S&P -34 points
- Nasdaq -319 points.
The second-quarter earnings season gets underway in earnest this week, with the spotlight firmly on the financial sector as Wall Street's largest banks and asset managers set the tone for the broader reporting season. Investors will be watching results from JPMorgan Chase, Bank of America, Citigroup, Wells Fargo, Goldman Sachs, Morgan Stanley, BlackRock, PNC Financial, and U.S. Bancorp for insight into the health of the U.S. economy, consumer spending, loan demand, credit quality, and the outlook for capital markets. Particular attention will be paid to net interest income, trading revenue, investment banking fees, loan-loss provisions, and management commentary on corporate and consumer activity. After a strong first half of the year for many financial stocks, expectations are elevated, meaning forward guidance could prove just as important as the headline earnings numbers.
Beyond the banks, the earnings calendar broadens considerably as the week progresses. Investors will hear from healthcare leaders Johnson & Johnson and UnitedHealth, semiconductor bellwethers Taiwan Semiconductor and ASML, aerospace leader GE Aerospace, streaming giant Netflix, and industrial names that offer a read on manufacturing and global demand. Together, these reports should provide valuable insight into AI-related spending, consumer resilience, corporate investment, healthcare trends, and the strength of the global economy. With earnings arriving alongside key U.S. inflation data and testimony from Fed Chair Kevin Warsh, the combination of corporate results and macroeconomic news has the potential to drive significant volatility across equities, bonds, currencies, and commodities throughout the week.
In the US debt market, a snapshot of yields are higher:
- 2 year yield up 1.8 basis points at 4.227%
- 5 year up 1.7 basis points at 4.327%
- 10 year yield up 1.4 basis points at 4.583%
- 30 year yield up 1.2 basis points at 5.083%
In other markets:
- Bitcoin is down -2.04% at $62847
- Crude oil is up $2.58 for 3.35% at $74
- Gold is down $64 or -1.57% at $4055
- Silver is down $1.39 or -2.30% at $58.45
This article was written by fl932d6e52a19643278e0f123bca7198f5 at investinglive.com.
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