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AUDJPY Cross Correlation With Equities Tight Today

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AUDJPY Cross Correlation With Equities Tight Today

The Australian dollar and the Japanese Yuan cross this afternoon started to perk up after it traded sharply lower this morning down nearly 2% on US dollar strength and equity weakness. This pair has been closely correlated with the S&P500 for the greater par to this year.

Currency's are something to watch when day trading our current markets as they tend to move first affecting the greater market second. The S&P's are up nearly 8 handles from their low on the day of 1167.75.

The US dollar index is still up .60% on the day to 78.37 with 78.35 now short term support.

Posted-In: Australian dollar Forex tradingForex Movers

 

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