Mike’s note: Today we’re featuring a new options strategy from a fellow rock-star trader: Adam O’ Dell.
FX Update: FOMC reaction fizzles. BoE hawkish.
Fed Chair Powell managed to surprise the market somewhat during the press conference with clear guidance on an imminent start to QE tapering, but the market reaction was fairly muted, with the action overnight and in the European session today suggesting the Evergrande story is still the hobby horse of...
The bond market dismisses the FOMC’s hawkish signals
The bond market's reaction was muted amid a hawkish Federal Reserve's meeting. Investors decided to focus on shorter-term economic dynamics such as the Delta variant dismissing signals of aggressive tapering and a Fed fund rate forecast of 1.8% for 2024, much higher than the Euro Dollar market pricing. Bond yields...
XAUUSD rallies into H1 resistance; daily still weak
The left chart shows the XAUUSD daily timeframe. Price is in the bearish area, between the lower blue and lower red bands. The right chart shows the XAUUSD hourly. Here the price is rising into resistance (red shaded horizontal). We are looking to see if this is a key level...
Hawkish FOMC at the margin, but market focus elsewhere
Today we break down where the FOMC meeting - and really Fed Chair Powell's press conference more specifically - surprised modestly on the hawkish side, but why the market reaction was relatively limited as focus seems elsewhere now, especially on China's Evergrande. Still, the market bulls will have to overcome...
Market Quick Take – September 23, 2021
In the wake of a very cautious indication of Fed intentions to taper asset purchases in the new FOMC policy statement last night, Fed Chair Powell surprised on the hawkish side during his press conference. This kept a lid on the equity market rally comeback and boost the US dollar...