Market Overview

ForexLive Americas Wrap: 100 Ways to Watch a Chart


Forex trading headlines for April 11, 2013:

USD/JPY touches 99.95
Initial jobless claims 346K vs 360K exp
Canadian Feb new house price index +2.1% vs +2.1% y/y exp
US Treasury Secretary says recovery ‘remains fragile'
US 30-year bonds sell at 2.998% vs 2.995% exp
Russia lowers 2013 GDP forecast to 2.4% from 3.6%
Fed's Plosser calls for reducing bond buying in next few months
Boehner: Obama budget a ‘step back' from earlier agreements
S&P 500 up 0.3% to 1592
NZD leads, JPY lags

USD/JPY fell early in US trading with large blocks of option expirations at 99.00 and 99.50 weighing. Afterwards, like clockwork, the pair began to move higher. Fresh record highs in stocks further fueled the move. The afternoon was spent staring at the chart as it ticked around 99.90. No breakout yet.

There was lots of talk as Bitcoin crashed today. I don't know if it's a currency with a point but but there are some valuable lessons in how it's traded this week.

The following article is from one of our external contributors. It does not represent the opinion of Benzinga and has not been edited.

Posted-In: News Forex Global Economics Markets


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