Note regarding the Eur crosses. EurUsd and EurGbp could catch a sticky bid in coming days which runs contra to the other two noted pairs of course. That runs contra to the other two crosses, indicating that there is a lag between more dominant cycles changing in one of the two groups.
according to bbrg
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Treasuries Rally With Fed Not as Hawkish as Feared: Markets Wrap
(Bloomberg) — The world’s biggest bond market surged as Jerome Powell downplayed the possibility of rate hikes and the Federal Reserve said it will shrink its balance sheet at a slower pace to ease strains in money markets.
The expectation – no change by the Fed. The strength – USD overall. The economy – signs of weakness appearing of late. My belief is initially stocks and Euro won’t behave well but likely pull up post-Fed after a great deal of volatility and reluctantly continue to find buyer interest into next week. In my book 0685 Euro has to clear and hold for bids to find daylight that sticks.
“If a failing bank is insured by the FDIC, all depositors will be paid “up to at least $250,000 per depositor, per FDIC-insured bank, per ownership category.”
DLRx 106.07
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As I expected dlr upside is wishi-washi ahead of FED at 14:00hrs and jerome’s explenation hlf hour later
the lyrics of his song are an open secret
beyond the expected wait till more confidence builders appear , jerome will very likely NOT take a cut off the table and may even mumble something about the possibility of a hike.
All in aggregate I expect that the player collective is not likeley to be surprised by anything jerome may share which implies, in my optique, low odds of a dlr ramp up.
IF for some nebulous reason to me I the dollar pop up, I will likely be looking to fade it.
Unless of course jerome makes some very overt hawk comments
