Long US yields are rangebound and the market has lowered its predicted end-point for the coming Fed rate hike cycle, which continues to take the sting out of the USD rally in the wake of the FOMC meeting last week. CEE currencies are all aglow after the Hungarian central bank...
The front part of the US yield curve is not done
Powell succeeded in calming and unnerved bond market. However, yesterday's 2-year US Treasury auction was disappointing following the 5bps hike in IOER/RRP rate. It leads us to believe that today and tomorrow 5-, and 7-year auctions might be vulnerable to investors' demand ahead of the personal consumption data. The divergence...
AUDCHF bullish breakout | 23rd June 2021
AUDCHF has just seen a bullish breakout from the descending trendline resistance-turned-support, and MACD is also now holding above the 0 line, showing potential for further bullish pressure. We could see price face further upside above Buy Entry level, in line with 38.2%, 50% Fibonacci retracement, 61.8% Fibonacci extension, and...
EURJPY facing bullish pressure | 23rd June 202
EURJPY is facing bullish pressure as it now holds above the moving average support. We could see further upside above Buy Entry level, in line with 38.2%, 61.8% Fibonacci retracement, and horizontal pullback support, towards Take Profit level in line with -61.8%, 78.6% Fibonacci retracement, and horizontal pullback resistance. Any...
Podcast: Market continues to shake off FOMC aftershocks. Grantham sounds alarm.
Today we look at US tech stocks managing to pull to new all-time highs as the market continues to shake off the implications of last week's hawkish FOMC surprise. The JPY is tumbling and the Euro and dollar are also quite weak on strong risk sentiment and as the market...
Market Quick Take – June 23 2021
Equities have pulled sharply higher in the wake of fresh comments from Fed Chair Powell yesterday on his view that the inflation spike will prove transitory. This reassurance helped take some more of the sting out of the reaction to the hawkish perceived shift at the FOMC meeting last week....
Crypto weekly: Rough weather in the ocean of cryptos
The crypto market is facing a broad sell-off after China expands its crackdown on cryptocurrencies, and mining activity is at yearly lows. Elsewhere, France, Portugal and Israel are making progress within digitalised asset technology.Tough week for cryptos The crypto market has had a touch week, and at the time of...
Private equity is winning big, US economy is showing 1980s heat
Listed private equity firms are one of the big winners since the pandemic and especially this year enjoying the tailwind from low interest rates and portfolio companies coming stronger out of the pandemic. Regularly readers know we have created a lot of theme baskets that we track do understand market...
FX Update: USD move higher sticking despite volatility elsewhere.
The volatility and direction changes in long yields and equities since last Friday have failed to disturb the USD move, where consolidation in the wake of the FOMC meeting has been very shallows, The yen failed to keep pace with the greenback as long treasury yields rose sharply, even as...
USDOLLAR Daily Likely To Run Into Near-Term Exhaustion
Price has deviated from trend significantly on the daily chart since last Wednesday's Fed statement release. Trend, in this case, referring to the peaks and troughs on the daily as defined by the green trendline. However, the massive momentum acceleration over the last week has seen the gradient steepen to...