Technical analysis of the Nasdaq 100, USD/JPY as they rally while Brent crude price weighs on support.
DailyFX Real Time News 2026-07-01 09:48:50
Context: The Nasdaq 100 and USD/JPY have rallied, while the Brent crude price has weighed on support, in a series of market movements influenced by factors including US Treasury yields, Federal Reserve policy expectations, and global economic trends. The dollar has strengthened, reaching ¥162.84 against the yen, its highest level since 1986, as investors await the US employment report. Market expectations for further Fed tightening have increased, with a 67%-88% chance of a rate hike in September.
Key Facts
- The dollar has climbed to ¥162.84 against the yen, its highest level since 1986, as investors remain alert to the possibility of intervention by Japanese authorities ahead of Thursday's US employment report.
- A sharp overnight rise in US Treasury yields, with the 10-year yield increasing by almost nine basis points, supported the greenback, pushing the euro down 0.11% to $1.1408 and sterling 0.2% lower to $1.32369.
- Markets imply a 33% probability of a Federal Reserve rate hike this month and a 67%-88% chance of an increase in September, with investors closely watching Fed Chair Kevin Warsh's appearance at the European Central Bank's annual forum in Portugal.
- The Nasdaq 100 has rallied, closing its island gap on Tuesday by rising to 30,328, with potential for the 2-to-22 June highs at 30,587-to-30,670 to be revisited, ahead of its 30,762 record high.
- Brent crude rose 0.45% to $73.28 a barrel after Tehran said it would meet international mediators rather than US officials in Doha, while US crude inventories fell by 6.1 million barrels last week.