Contact us

[JMM USA]

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

After an intense month focused on election risk around the world, markets quickly switched back to the more prosaic matter of the cost of money – and whether disinflation is resuming to the extent it allows borrowing costs to finally fall.

Thursday’s U.S. consumer price update for June is the key moment of the week for many investors – with the headline rate expected to have fallen two tenths of a percentage point to 3.1% but with ‘core’ rates still stuck at 3.4%.

Morning Bid: Eyes switch to inflation vs elections, Powell up

[GVI Forex 2]

GBPUSD UPDATE – BID WHILE ABOVE 1.28

Levels to watch: 1.2785-1.2797/00 -1.2846 -1.2860

[Belgrade Bobby]

USDJPY 4H

USD/JPY: Dollar Reclaims ¥161, Jay Powell Speech to Test Greenback’s Strength

Dollar jumps above ¥161.

Fed’s Jay Powell to testify.

Volatility expected today.

Supports at : 160.950 , 160.850 , 160.500

Resistances at : 161.150 , 161.350, 16.950

[JMM USA]

EURUSD 4 HOUR – WAITING FOR POWELL

Given expectations of a dovish tilt for Fed Chair Powell’s testimony today, the dollar upside should be limited ahead of it.

This suggests markets should be positioned for a more dovish testimony so it will be the reaction to his comments that will be more important than what he says barring some clear signal of a rate cut (markets are pricing in an 80% chance of a Sept cut).

Otherwise, expect support as long as 1.08+ trades but needing to take out 1.0845-50 to suggest a run at key targets in the 1.09-1.10 area.

[GVI Forex 2]

AUDUSD 4 HOUR CHART – AIMING FOR .68?

Key target is close to .69 with .6800 the next obstacle. To make a run at .68, .6750 would need to become support.

Minor range .6710-.6761

Split the range and .6735 is the midpoint… needs to hold to keep a bid.

           CLICK BELOW TO LEARN ABOUT THE

GLOBAL-VIEW TRADING CLUB

[GVI Forex 2]

1.              CLICK BELOW

[Belgrade Bobby]

XAUUSD – Gold
Has to hold above 2355,00 for further advances.
Resistance at 2395,00

[Belgrade Bobby]

TSLA – Tesla
Tesla on Track for Longest Winning Streak Since June 2023
Tesla, Inc. (TSLA) is currently at $252.54, up $1.02 or 0.41%Would be highest close since Dec. 28, 2023, when it closed at $253.18

Currently up 10 of the past 11 days

Currently up nine consecutive days; up 38.32% over this period

Longest winning streak since June 13, 2023, when it rose for 13 straight trading days

Best nine day stretch since the nine days ending Feb. 2, 2023, when it rose 41.11%

Up 27.62% month-to-date

Up 1.63% year-to-date

[Belgrade Bobby]

SMCI – Super Micro Computer Inc.
Is Most-Watched Stock Super Micro Computer, Inc. (SMCI) Worth Betting on Now?
Super Micro Computer  SMCI is one of the stocks most watched lately.
Over the past month, shares of this server technology company have returned +10.1%

[Belgrade Bobby]

AMD – Advanced Micro Devices Inc
AMD and shares have lagged this year. Why a rebound could be in store.
AMD has found a nice Support just above 155.00 and now is heading towards middle of the Rising Channel – 195.00

[Belgrade Bobby]

BTCUSD – Bitcoin
Bitcoin falls further amid sell pressure from German government exchange transfers and Mt. Gox payouts
Bitcoin’s price has fallen further over the past 24 hours as Mt Gox payouts and the German government’s transfers of BTC to crypto exchanges have rattled markets.

[Belgrade Bobby]

Nvidia – NVDA

Nvidia Could Earn $5 Per Share in 2025, Analyst Says: Supply Checks ‘Materially Larger Than Just Two Months Ago’

Shares of leading semiconductor stock NVIDIA Corp  NVDA are trading higher after receiving an updated price target from a leading analyst

[GVI Forex 2]

SEEING IS BELIEVING – THE POWER OF “50”

CLICK BELOW

[GVI Forex 2]

NAS100 UPDATE – NOTHING GOES UP FOREVER BUT…

Levels to watch: 20468 *new rec0rd_ – 20358 -20138

[Belgrade Bobby]

EURUSD Daily

Supports for tomorrow – 1.08150 , 1.07750 & 1.07600

Resistances – 1.08500/550 , 1.08950 & 1.09200

This is a Bullish formation and if it closes tonight above 1.08250 we should see at least attempt at 1.08950.

[SF Monedge]

Funding overdrafts – The level of daylight overdrafts — when a bank withdraws more money than it has in its account at the Fed.  They recently reached levels and behavior similar to pre-crash conditions of 2019.  A bit concerning, it should be noted that major banks also recently resoundingly passed stress tests which is an offset should shock conditions arise, either sudden or gradual.  Likely temporary.  Also, the two heavy factors of war and elections have not stopped the steady purchasing of US, Euro, and MSCI stocks.

I am fixated on July 15th as having the potential for either strong buying or a shift toward risk off, for a variety of reasons including that fund managers and the like will begin to return from early vacations.

[GVI Forex 2]

One of those Mondays…Here is my Power of 50 article as GBPUSD, EURUSD, AUDUSD and USDJPY all paused around or shy of respective 50 levels in what turned into a slow drip, paint drying session.

FWIW the softer GBPUSD tine appears toi be coning from EURGBP buying.

[SF Monedge]

R/R on UsdChf sell side is decent at current levels (8970-8980). You either get a good one or the entire dynamic changing to a long USD overall again which sticks increases.

[JMM USA]

GBPUSD giving back some gains – all majors are now +/- single digit changes as of this moment

[michael Calif]

current wave sequence suggesting short pullback EURUSD    :gtwo3

[Author]

Posts