USD/JPY nears the lows of the day as stock market weighs

USD/JPY down 40 pips USD/JPY doesn’t care about what’s happening in the stock market… up to a certain point. That’s the lesson in trading today as the pair slides down to 109.80 from 110.25 in the afterglow of the ISM non-manufacturing report. At that point, the S&P 500 had turned positive and risk assets were […]

New lows for the S&P and Dow

Dow down 477 at low.The stocks continue to move lowerThe S&P just reached a new session low at 2718.07 down about -43 points or -1.54%.The Dow fell -477 points or -1.86% at 25053The NASDAQ meanwhile is down 83 points or -1.15% at 7156.50. It continues to chase down toward the days low at 7151.85 Some underachievers […]

Euro Sentiment Shifts as Traders Sell Positions

EURUSD: Retail trader data shows 31.0% of traders are net-long with the ratio of traders short to long at 2.23 to 1. In fact, traders have remained net-short since Apr 18 when EURUSD traded near 1.05835; price has moved 17.4% higher since then. The number of traders net-long is 6.6% higher than yesterday and 21.6% […]