Crosses also impacted
The weaker US ISM data threw a monkey wrench in the markets trends.
- The GBPUSD was the star performer of the day and it continued to new session highs, but other cross pairs like the EURGBP and GBPJPY has reversed pressuring the pair back lower
- The USDJPY was also on a new run higher. It moved up to 103.99 but boom, has been hit back lower and has nearly retraced the entire move higher from today's lows. It is below the close from yesterday at 103.40 now.
- The EURUSD was trading lower on the day before the report - hit by weakness in the EURGBP. However it has gotten a boost and now trades in the green for the day AND above the 100 hour MA at 1.11705.
- The US stock market has moved lower. The S&P is down -0.5% and the Nasdaq is down -0.32% (they are off the lows). The move lower, has taken some of the bloom off pairs like the GBPJPY which has moved from 138.02 to 137.11. There is support at the 137.00 for that pair.
