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[Mtl JP]

USDCAD 1.3646
–
profusion of similar headline
“Bank of Canada can stomach faster rate cuts than the Fed, say economists
TD Bank expects Canada’s real GDP growth to remain less than half of that in the U.S. throughout 2024, reinforcing the Bank of Canada’s conviction in rate cuts.”

[GVI Forex 2]

US500 4 HOUR CHART – RISK OFF

US stocks disconnexting from a sharp drop in bond yiuelds, suggesting it is more of a risk OFF move.

Chart is clear, essentially 5200-5300 but have to see how equities react if there are more misses on the US data downside.

[Mtl JP]

some things are whaki today

brent: down circa 7 bucks
wti down 3 bucks

dlr down …. against the swiss for example

[Mtl JP]

TG / wouldn’t do loans I knew people would default on, for their own good

what like is to BoD when TBTF banks announce provisions for bad laons / mortgages and their stock dips.

[SF Monedge]

JP – 4:17  It is building, becoming very difficult to purchase a house in the US in populated places.  I did workouts coast to coast for a F500 bank and built a tip of the spear company doing the same but as an advocate for consumers while working coast to coast with banks and real estate companies.  The “sub-prime” financing was off the charts in the era referenced in that article, sold on the secondary market like hot lead with nothing down half the time, unless you were triple A like Bank of America.  I wouldn’t do loans I knew people would default on, for their own good, but there were still tons of them.  Then the crash from inflated paper and values.  Looks like inventory is high in Florida again.

That is definitely a USD impact and something to keep an ear on one might think.

[Mtl JP]

Not an FX tradeable but … a good financial ed read / reminder

A shady financial tool from the housing-bubble era is making a comeback – cnn

[SF Monedge]

I like the bid on UsdSingapore and UsdChf

[SF Monedge]

I am eagerly awaiting those stops Jay.

[GVI Forex 2]

ONE THING TO REMEMBER IF THERE ARE STOPS IN THE MARKET THEY WILL LIKELY BE ON THE USD DOWNSIDE UNLESS LAST WEEK’S HIGHS COME BACK ON THE RADAR.

[SF Monedge]

I am a dollar bull this week overall no matter that Eur and Sterling have pulled up.  Lot of data, so nimbleness required.

[GVI Forex 2]

Disconnect: Yields down, stocks down

[SF Monedge]

JP- 2:35…the ghost of Elvis Costello, its the only rational possibility.

[GVI Forex 2]

USDJPY 4 HOUR CHART – correlation

USDJPY reacting in a more traditional correlation way to the dip in US bonD yields.

The break of 156.34, if it holds would expose the 155s, where there are layers of support ahead of the pivotal 155 level.

Below 155 would be a psychological game changer.

ONE WORD OF CUATION… THERE IS STILL A LOT OF US DATA THIS WEEK SO KEEP AN EYE WHETHER THE USDJPY-YIELD CORRELATION CONTINUES.

[Mtl JP]

wtf
–
Trading Halts
https://www.nyse.com/trade-halt

putin’s fault ?

[SF Monedge]

Just a note, Bank Index is not supporting the bid today and either are some outward looking internals on Euro

[GVI Forex 2]

YIELDS DOWN AFTER ISM DOWNSIDE MISS… USD FOLLOWING

[Mtl JP]

u had to be fast or have a tactical short waiting

fwiw there is gap to 1.0852

[Mtl JP]

EURO 1.0850
I am biased

Considering a short on approach to 1.0860/70/75

[Mtl JP]

IF stocks take a dive …. dlr should “benefit”

slow start to the week should see some turn in the latter half with
BoC on deck on Wednesday
ECB rate decision and
NFP on Friday

[Author]

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