[Video] EUR/JPY Bounces with Yields Ahead of ECB (MS, Silver)
Matt Simpson July 22, 2021 3:59 AM
All eyes are on euro pairs ahead of today's ECB meeting. But, given the risk-rebound these past two days, a higher EUR/JPY is not impossible form current levels.
Markets are fully expecting a dovish ECB. And if that turns out to be the case, it will be a surprise to few. But what if ECB are not as dovish as expected? Then that could potentially lead to a stronger euro, which might make EUR/JPY look attractive at these lows if equities and bond yields continue to rise today.
We also update our analysis on Morgan Stanley (MS) following its bullish breakout, and spot silver as it is showing early signs of a countertrend move.
S&P 500: 4358.69 (0.82%), 21 July 2021
- Energy (3.5%) was the strongest sector and Utilities (-1.09%) was the weakest
- 8 out of the 11 S&P 500 sectors closed higher
- 5 out of the 11 sectors outperformed the S&P 500
- 3 out of the 11 sectors traded lower on the S&P 500
- 374 (74.06%) stocks advanced and 130 (25.74%) declined
- 86.34% of stocks closed above their 200-day average
- 59.21% of stocks closed above their 50-day average
- 55.84% of stocks closed above their 20-day average
- + 11.54% - Chipotle Mexican Grill Inc (CMG.N)
- + 11.32% - Interpublic Group of Companies Inc (IPG.N)
- + 10.14% - Norwegian Cruise Line Holdings Ltd (NCLH.N)
- -3.38% - Seagate Technology Holdings PLC (STX.OQ)
- -3.28% - Netflix Inc (NFLX.OQ)
- -2.51% - Eversource Energy (ES.N)
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