US Wrap

US equity markets fell sharply overnight and we have also reached the Quadruple Witching, which could make for some interesting price action.

The NASDAQ was once again the main drag on markets and it fell more than 3% on the session.

The US 10-year yield is pushing back up towards the highs as is currently a touch under that 1.75% mark. Very interesting, given we had the FOMC this week, with Powell not all that keen to do much different.

The USD did spring back to life yesterday also and the fall was short and sharp.

The Data Agenda

The data is thin to close out the week with only Canadian retail sales likely to be of interest.

However, it will be worth watching markets as we have the triple witching. Quadruple Witching occurs four times a year when the quarterly expiration of stock options, stock index futures, and stock index options happens all on the same day.

This can really cause markets to move around sharply and in a way that is not always in keeping with the current price action. 

Given that stocks again look a little shaky, this is certainly one to be paying attention to on Friday.

Forex Signal Update

The FX Leaders Team hit 1 winner from 2 trades, as the Greenback bounced back hard.

Make sure you follow our live signals as volatility could rise to close out the week.

US 10-Year – Watching

The bond yields have been rising and this is going to be a real driver of price action in the weeks ahead. Keep paying attention.

USD – Watching

The USD rebounded heavily and is back to where it started from.

Cryptocurrency Update

BTC has bounced but is really having a battle now at the  $58,000 level. For the time being, it looks like it has made a lower high under the $60,000 level.

Bitcoin will continue to be a key trade to watch given the role it plays in driving the overall market.