Technical Analysis

10 year yields in Europe end mixed.  

As London traders exit for the week, the AUD is the strongest. The CAD is the weakest.  The loonie got hit on the back of weak retail sales and CPI data.  Although lower, the currency is off its lows on the back of higher oil. Crude oil is now up over $3 or 4.7% and trades at the highs. 

In the debt market in Europe, yields are ending mixed.  Italy and Portugal are lower.  Germany, UK, France and Spain yields are higher. 

For the week, the German 10 year yields are down by 6.6 bps. Italy yields moved up 8.5 bps. The rest are mixed in between those extremes. 

As mentioned oil is surging after the OPEC meeting disappointed those looking for higher production. Instead the market has more uncertainty and the fear is demand will outstrip the supply.  

The price of Crude oil has been trading above and below the 100 day MA waiting for the OPEC decision. The price is moving away from that MA at $65.52 and looks toward $70.

In other markets now:

  • Gold is up $2.11 or 0.16% at $1269.20
  • Bitcoin is getting hit and trades down -$556 at $6161.
  • S&P is up 0.41%. Dow is up 0.70%. Nasdaq is down -0.12% on rotation out of tech and into oil stocks and other big cap
  • US yields are up but less than 1 bp and off highs. 

Brazil 2 Costa Rica 0

Nigeria 2 Iceland 0

Later, Serbia plays Switzerland.

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