The dollar is down across the board in European trading, as we start to see some mixed markets moves on the day. Stocks are down and so is gold as the surging run hits an air pocket amid some profit-taking. There’s no specific catalyst but keep in mind that month-end and quarter-end shenanigans are in play today, so that won’t make it any easier to read into the moves we’re seeing at the moment.
EUR/USD is up 0.3% to 1.1757 while USD/JPY is down 0.5% to 147.85 and breaking a couple of notable technical levels.
USD/JPY hourly chart
The pair is falling below its 200-hour moving average (blue line) of 148.39 now, reaffirming a more bearish near-term bias. That after also breaking below its 200-day moving average of 148.37. That’s two birds with one stone for the sellers.
Besides that, AUD/USD is also up 0.5% to 0.6608 following a slightly more hawkish RBA lean from earlier but not really pushing gains all too much.
In other markets, S&P 500 futures are down 0.2% with European indices also sitting lower around 0.1% to 0.3%. Gold is also down 0.4% now to $3,819 after having hit a high of $3,871 earlier in the day.
