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[Mtl JP]

some still harping the fed int rate cut theme
–
“(Bloomberg) — Economists at Goldman Sachs Group Inc. are forecasting two Federal Reserve interest-rate cuts this year instead of three…”

[Mtl JP]

chuckle time
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NYT
“Inflation Was Quicker Than Expected in March, Unwelcome News for the Fed

The surprisingly stubborn reading raised doubts about when — and even whether — the Federal Reserve will start cutting interest rates this year.”

[GVI Forex 2]

USDJPY DAILY CHART – Who’s afraid of the BoJ?

With the 151.97 line in the sand shattered, USDJPY is trading, not close to record but in unchartered waters. This leaves Japanese monetary authorities with nothing but verbal warnings for if they choose to intervene, there would be more than ample buyers lying in wait at lower levels.

This leaves the market wondering where the next line in the sand is. The obvious level is 155 but ahead of that is 153.50, midpoint of 152-155. On the downside, only back below 151.97-00 would slow the risk.

[GVI Forex 2]

Poor US 10 year auction – yield spikes to 4.56%

[GVI Forex 2]

Also there is a 10-year auction today. Last 4.517%

[GVI Forex 2]

EURUSD WEEKLY – NEXT SUPPORTS?

While there is a support level on other charts at 1.0724, the key level is 1.0692 as there is a void and a black hole below it.

At a minimum back above 1.0750 would be needed to slow the risk but only 1.08+ negates it.

T

[GVI Forex 2]

THIS WAS A TIMELY ARTICLE I POSTED YESTERDAY IN OUR BLOG. NOTE THE PRICE ACTION TODAY AFTER THE RETRACEMENTS RAN OUT OF STEAM. YOU WILL SEE WHY WHEN YOU READ THE ARTICLE.

Why Retracements Work and How to Use Them in Your Trading

[GVI Forex 2]

If you scroll through this week’s posts I wrote 1 +1 = 3 to describe a market buying eurusd ahead of CPI and the ECB.

Tiday 1 + 1 =2

[SF Monedge]

Per my colleagues … Option Profile suggests June Gold futures are no longer bullish; actively searching sell entry point.

[Belgrade Knez]

April 10, 2024 at 4:06
SF Monedge

Warren Buffett … sell when they are buying and buy when they are selling

—————————————————————————————

Nice to meet you Warren! 🙂

 

[SF Monedge]

Warren Buffett … sell when they are buying and buy when they are selling

[SF Monedge]

We estimate we will see 1.0940 again in time.

[Swiss Frank]

So you see the ECB breaking ranks with the Fed? Fed pretty clearly can’t talk up the rate cut prospects at this point. Meanwhile ECB tomorrow says we’re on track for June cut?

[GVI Forex 2]

The theme was the other CBs would look for cover from a Fed rate cut before acting.

ECB officials have been touting a June rate cut. I can’t see it turning hawkish.

[GVI Forex 2]

The theme was the other CBs would look for cover from a Fed rate cut before acting.

ECB officials have been touting a June rate cut.

[Swiss Frank]

Looking past the next 5 minutes, maybe the question to be asked and answered is, Does the ECB break ranks tomorrow with the Fed, and not necessarily come thru with an immediate cut, but lean hard in that direction? Personally I don’t see them having the huevos to do so. And if they don’t come across as cuts imminent, then what?

[SF Monedge]

We at Monedge are definitely long Euro.  We had a conference.  Holding half longs and banking short Sterling until it settles down.

[Belgrade Bobby]

Gold – As long as Above 2300 is a Buy

[SF Monedge]

Well, I cut half, still in, green no matter.  Spreading your positions is a good idea.  If Euro holds the sell pressure that is a major run uphill.  If not, hold the Sterling shorts (there is a reason you want me to play lead guitar in your rock band lol)

[SF Monedge]

Ok I cut and ran with the Sterling shorts, green

[Author]

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