Dollar After breaking out through the Nov-April resistance of 97.70, the Dollar Currency Index (DXY) ticked to ~98.40 on two occasions and is currently selling down for a possible retest of prevailing support. Often we see resistance turned into support after a technical breakout, watching 97.50-97.70 to confirm the up-trend. As for the components of … Continue reading Market update: Dollar, Gold, 10Y, SPX and BTC
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The Week Ahead
On Friday the S&P500 closed within ~10 points of the previous week, marking little action as the index pressed up against the 2,800 resistance. Treasuries sold off slightly with the 10 Y hitting 2.759%. Treasury spread on the 5-30 hit its highest in more than a year at 58 basis points. Gold ended a bullish … Continue reading The Week Ahead
The Powell Put in Action
The January 30th FOMC press conference was greatly anticipated by market participants, generally looking to see how dovish Powell could get in the light of uncertain financial conditions and signs of a global slowdown. This is a recap of last meeting: Language: Powell starts off his conference indicating that the "economy is in a good … Continue reading The Powell Put in Action
GOLD vs Dollar
Dollar Bounce: $95 technical support Lets recall the 4 major components of the Dollar Currency Index $DXY, by weight: Euro (EUR) - 57.6% Japanese Yen (JPY) - 13.6% Pound Sterling (GBP) - 11.9% Canadian Dollar (CAD) - 9.1% Now we can see that the DXY bounce is primarily as result of Euro depreciation, relative to … Continue reading GOLD vs Dollar
Starting 2019
Last week we started off 2019 with a slide in equities, the S&P500 testing and selling off the 2520 resistance level. My thoughts at the time being that this was a significant resistance and we would not breakout from it proved wrong as the market ripped through on Friday. Fueled by the hope that Powell … Continue reading Starting 2019
