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[GVI Forex 2]

GBPUSD DAILY CHART – ELECTION DAY

No change to what I posted last night (today;s low has been 1.2740)

With a landslide Labour win on Thursday widely expected, the reaction will tell us how much is discounted.

Charts, meanwhile are very clear… if 1.2739 becomes support there is a clear path for 1.2860 with the psychologicl 1.28 level standing in the way.

[GVI Forex 2]

A look at the day ahead in European and global markets from Wayne Cole.

It’s been a generally upbeat day so far in Asia as softer U.S. data burnished the case for a September rate cut from the Federal Reserve.

The main event in Europe will be the UK election, where the only real unknown is how super Labour’s majority will be. The bookies are odds on for Labour and even Tory ministers have conceded they are heading for a record thumping.

Morning Bid: Bets mount for US rate cut, UK political shake up

[GVI Forex 2]

EURUSD DAILY CHART – 1.08 PIVOTAL

Momentum building to the upside but yet to establish above 1.08.

1.0817 held yesterday but remains at risk. A firm break puts the key 1.0852 on the radar. A break of this level would open the door for 1.09-1.10.

With that said, 1.08+ first needs to be established.

In any case, expect support on dips ahead of tomorrow’s US jobs report as long as it stays above 1.0752.

Reminder French second round vote is on Sunday.

[GVI Forex 2]

USDX DAILY CHART – MAJOR LEVEL CIYED

The failure to test the key high above 106 has the dollar moving to the defensive wit lower levels at risk.

If you are looking for a game changer level that would confirm the end to the USDX uptrend, it is highlighted on this chart at 103.93.

 

[Mtl JP]

NO CUT in july
It must true now that jeff cox concurs w/ nick:

“Fed says it’s not ready to cut rates until ‘greater confidence’ inflation is moving to 2% goal” – cnbc

The FED is notorious for not wanting to throw markets for a loop
So a near 99+ % certainty no cut

[michael Calif]

BTC futures establishing a soft low for move higher soon    :gtwo3

[michael Calif]

Euro futures still betting Long EURUSD and higher prices    :gtwo3

[Mtl JP]

10-yr 4.354
–
Fed Officials Signaled No Hurry to Cut Rates
Minutes of their last meeting suggested some are on alert for signs of labor market deterioration
By Nick Timiraos, Updated July 3, 2024 2:14

[Belgrade Bobby]

XAUUSD – GOLD Daily

It came today exactly to Resistance at 2365.00

Support at 2340.00 & 2295.00

Look as ready to break higher – need another day and/or break of that resistance to confirm.

[Belgrade Bobby]

BTCUSD – Bitcoin

If below 58.500, it will target 55K .

[Belgrade Bobby]

EURUSD 4H

Supports at : 1.07750 , 1.07600 & 1.07350

Resistances at : 1.08000 , 1.08250 & 1.08500

1.08250 is the Key for EUR advancement .

Tomorrow is 4th of July , and unless Europe gets all wild, not much is to be expected till Monday.

[Belgrade Bobby]

NVIDIA (NVDA) Up 147% YTD: Is It Too Late to Buy the Stock Now?
Why Could NVDA Stock Further Appreciate?

NVIDIA’s remarkable stock performance has been primarily driven by the anticipation that the company will reap substantial benefits from the growing investments in generative AI. Given NVIDIA’s leading position in this space and the vast opportunities generative AI presents, the stock seems poised to maintain its upward trajectory throughout the year.

[Belgrade Bobby]

S&P 500, Nasdaq – NDX post record closing highs as data stokes hope for rate cut
Jobs data points to easing labor market

ISM services PMI weaker than expected

Paramount jumps on report of Skydance Media deal

First Foundation slumps after capital raise

Indexes: Dow -0.06%, S&P 0.5%, Nasdaq 0.88%

[Belgrade Bobby]

 TSLA: Tesla Stock Powers Higher After EV Maker’s Deliveries Top Estimates at 443,956
Tesla shares jump about 10%.

Deliveries surpass estimates.

Shares are up 60% since April.

 

[GVI Forex 2]

GBPUSD DAILY CHART – WAITING FOR THE ELETION

With a landslide Labour win on Thursday widely expected, the reaction will tell us how much is discounted.

Charts, meanwhile are very clear… if 1.2739 becomes support there is a clear path for 1.2860 with the psychologicl 1.28 level standing in the way.

[Belgrade Bobby]

Apple – AAPL

Apple hits the New High , going over 220.00 psychological barrier.

Now road is open for 230.00

[Mtl JP]

think the jerome janet dynamic will change with joes poofing ?

[SF Monedge]

Likely just an intra-day issue but Euro puts have been receiving inflows last 30 minutes slightly dominating calls.  Risk adjustment pre-holiday perhaps.

[GVI Forex 2]

>ven USDJPY joining the dollar sell off party as yields fall after weak ISM

[GVI Forex 2]

Big downside miss in IDM Services PMI

[Author]

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