Forum Replies Created
-
Another active week ahead
Newsquawk Week Ahead Highlights – 3rd-7th February
Newsquawk Highlights include US, Canada and NZ Jobs, US ISMs, BoE, EZ CPI, BoJ SOO, JMMC
Newsquawk Week Ahead Highlights – 3rd-7th February
US500 4 HOUR CHART – What’s the ugly word?
Just when it looked like US500 was setting up for a run at the record high, tariff news cut it short.
Now it is dependent on 6000-20 holding to keep the bid in what was looking like a goldilocks market => tame bond yields, growing but not overheating economy. Watch bonds now that ugly word, tariffs, is likely to become a reality rather than a threat.
XAUUSD 1 HOUR CHART – Mission not finished bUt how aboit now?
I asked if the test of 2800 was mission accomplished but the move above it said mission was not finished.
However, a failure to close/establish above 2800 would leave it dependent on 2785-90 holding as support to keep 2800+ at risk.
Much will depend on how many are trapped long above 2800 as that would expose stops below the market.
USDCAD 4 HOUR CHART – TARIFFS COMING
We are back waiting for the Feb 1 Trump tariff threat deadline after a news whipsaw to end the month.
As I have been noting, actions speak louder than words and latest report that tariffs will be going into effect on Feb 1 should, at a minimum, provide a floor under USDCAD.
Key levels:
1.45 => sets the tone
1.4595 => This week’s spike high that guards exposing MAJOR 5 YEAR HIGH AT 1.4661…
