Forex News April 19, 2022

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So far in European morning trade, market tones are mixed: bond yields are rising, the dollar is falling, and stocks are holding steady.
There are some mixed undertones playing out in European morning trade so far, as markets are likely settling in after the Easter holiday. • The dollar is trading slightly lower (except against the yen and franc), even as bond yields rise.
EUR/USD is up 0.2 percent to trade back above 1.0800, but it still faces near-term resistance from its 100-hour moving average at 1.0823. GBP/USD is also still flirting with daily support at 1.3000, having recently traded up to 1.3030 from a low of 1.2990.
The USD/JPY remains a notable exception, with the yen falling like a fly across the board.
The pair is currently trading at 128.30, up 1.1 percent. In other news, European stocks are still being pushed lower by nearly 1% across the board. Furthermore, US futures have erased earlier gains, with the S&P 500 futures currently trading down 0.1 percent.

Bond sales have resumed, with 10-year Treasury yields hovering around 2.90 percent.
This is the highest level since December 2018.
Here are the current Treasury yields:
2-year yields are up 1.7 basis points to 2.477 percent.
5-year yields increased by 2.7 basis points to 2.823 percent.
10-year yields are up 3.5 basis points to 2.897 percent.
30-year yields increased by 3.5 basis points to 2.987 percent.
The levels are the day’s highs as bond selling appears to be resuming. As a result, the USD/JPY is rising, with the pair now up 145 pips to 128.42. The yen is being dragged down across the board, with the AUD/JPY trading at its highest since July 2015, closing in on the 95.00 level.
Ten-year Treasury yields are attempting to break through key resistance in the form of the 200-month moving average (blue line) as well as the channel range that has been in place for more than two decades.

OPEC+ compliance rises to 157 percent in March, up from 132 percent in February, as Russian output is hit by sanctions.
This is to be expected given the situation with Russia, which underproduces by 313k bpd in March due to ongoing sanctions.
The widening supply gap will be something to watch, as it will offset slowing demand, given that the global economy is expected to slow as inflation takes hold.

European equities open lower. Sluggish tones to begin the day
Stoxx 600 -0.8 percent, Germany DAX -0.7 percent, France, CAC 40 -0.9%, FTSE 100 -0.2% & IBEX 40 -0.5%.
The prospect of higher inflation continues to weigh heavily on sentiment in Europe, leading to the expectation that the region will experience a significant economic slowdown in the coming months.
The failure to resolve the Russia-Ukraine conflict also does not help in this regard.
However, keep in mind that overall risk sentiment is mixed on the day, with US futures holding slightly higher.
S&P 500 futures are currently up 0.3 percent, Nasdaq futures are up 0.5 percent, and Dow futures are up 0.3 percent.