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[SF Monedge]

Interesting facts related to super computing while we wait for Nvidia.

In the 1st decade of the turn of the century the net gain of jobs in the US was zero.

To visualize the impact of disruptive technology, In the 19th century 50% of workers were employed on farms.  By the year 2000 the number was 2%.  This is an isolated sector.  AI comprises all sectors.

The amount of data stored on the worlds computers is now believed to be over 1,000 billion gigabytes.  AI is accelerating the ability of robotics to use that data to actually form perpetually stronger learning and reaction by the computers themselves far in advance of the speed of humans.

Oxford University projects that almost half of global jobs are likely to be replaced in roughly 20 years.  That equates to 60 million jobs in the United States.

[GVI Forex 2]

Cold feet by stocks ahead of Nvidia.

EURUSD res at 1.1135, blocks 1.1150

[SF Monedge]

AudUsd is on borrowed time temporarily, see 6650 in coming weeks holding reasonable mean reversion.

[SF Monedge]

There is more to life than Nvidia.  No matter what the initial earnings results it is a buy over time.  Today is National Cherry Turnover Day, National Red Wine Day, La Tomatina Day, National Bow Tie Day, Be Kind To Humankind Week (see Russia and Iran), and Shania Twain’s birthday.

[SF Monedge]

I am not overly enthusiastic about the sell side of UsdJpy today.

[Mtl JP]

EURO 1.1110
carefully bearish bias

altho puppy failed at 1.12 and by ocular evidence sits on 1.11 Sup to possibly try to test it.

As I suggested yesterday, breakdown would open up 1.1050/25 ish zone

Res 1.1170

[GVI Forex 2]

JP, with stocks up on the month, month end would typically see USD selling.

Whatever the case, someone(s) is liquidating USD shorts.

[Belgrade Bobby]

GBPUSD 1H

As I mentioned last night, Cable needs a correction , to be able to continue Upwards.

Supports : 1.31850 , 1.31350 & 1.30950

Resistances : 1.32200, 1.32450 & 1.32650

Expect a double take ( after this initial move down, a spike up and another test of down side)

[Mtl JP]

DLRx 100.98
On bit of an updraft, likely on end-of-month demand.

Odds are low for a sustained gain unless next week’s NFP kneecaps all the pent-up expectation for rate cuts.

Econ Calendar: nothing
18:15 – bostic yaks

[GVI Forex 2]

Bids or stops?

EURUSD needs to find bids at/above 1.1098 level to avoid a stop run towards 1.1071 (1.1030 below it).

[GVI Forex 2]

GBPUSD 4 HOUR CHART – Is the high in?

To suggest the high is in 1.3179 would need to be firmly broken.

Otherwise, 1.32 is pivotal in keeping the bid.

On the upside, there are no stops left unless a new high is made.

[Mtl JP]

Here is why the FED (and other CBs) are NOT done keeping rates higher for longer as inflation is not yet working its downward pressure enough on the economy (ref Okun’s Law / “sacrifice ratio”) and therefore on employee snotty attitude

Gen Z turning down high-paying jobs for workplaces with perks

[GVI Forex 2]

This is just a thought but perhaps there is foreign USD demand for the deluge of Treasury bonds being auctioned.

[GVI Forex 2]

A look at the day ahead in U.S. and global markets from Mike Dolan

Nvidia’s post-bell earnings update on Wednesday is keeping stock markets everywhere in a holding pattern, while U.S. Treasury markets appear to be absorbing the latest torrent of debt sales quite comfortably.

Morning Bid: As Nvidia awaited, Treasuries absorb new deluge

[GVI Forex 2]

EURUSD 4 HOUR CHART – Is the high in or just a retracement?

EUR has been a weak link as can be seen on its crosses, especially EURGBP.

The failure to retest 1.12 puts the downside at risk but only if it stays below 1.1150. A break of 1.1098 would negate this latest leg up.

Retracement levels–
‘
Using 1.1098-1.1201, 61.8% = 1.1137 (vs 1.1135 low)

1.1120 = 76.8%

[GVI Forex 2]

All eyes will be on Nvidia reporting after the close.

NEW YORK, Aug 27 (Reuters) – Traders in the U.S. equity options market are expecting Nvidia’s (NVDA.O), opens new tab upcoming earnings report to spark a more than $300 billion swing in the shares of the world’s most dominant artificial intelligence chipmaker.

Nvidia results could spur record $300 billion swing in shares, options show

[GVI Forex 2]

USDX 4 HOUR CHART – Head Fake

A bit of a head fake after yesterday’s weaker USD close that has so far failed to follow through.

Using USDX as a proxy for the EURUSD (57.6% of the index), the bounce off the 100.55 double bottom would need to get through 100.94 to suggest a pause and then through 101.57 to indicate the bottom is in place for now.

In EURUSD 1.1150 is the obvious bias setter.

[Mtl JP]

ya many = ya know many

[Mtl JP]

DLRJPY 144.48
ding ding ding ding

ya many Mrs Watanabes SF ?
kudos !

[SF Monedge]

Mrs Watanabe likes Monedge today.  Approaching 144.50 as planned.

[Author]

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