I have never thought the FED will raise the Fed Funds Rate this year. And I still don't. Markets are overreacting. I will be shorting on the rally back.
PPT = Plunge Protection Team, a dubious consortium put together to arrest declines in u.S. equities, and restore order and confidence by deceiving the general public into believing it is "safe" to put their hard-earned money to work in rat-infested markets such as the U.S. stock market.
USDJPY failed 91.50, and just dropped 12 pips as soon as the PPT-backed U.S. equity rally ran out of time into the 4 pm NYT close. I guess the SMART $$ is planning for a reversal in equities, possibly as soon as in the next Tokyo (Nikkei) and European sessions.
Let's see if the RBA is right back at it, instructing their prop desks to bid AUDUSD higher at ALL costs.
@Pipped-welcome to the forum. Are you appearing under a different handle? And very similar to my handle.
Anyway, I am in USDCAD at only nine pips higher than you. I closed a substantial position earlier today at 1.0588. Wasn't sure I could get back in, especially at these prices. However, there is still a chance of 1.0375/50 here as the PPT-backed nonstop U.S. equity rally has accomplished its task of making everyone feel good so as to take more and more risk in trading.
1.0850? Heck no-why not 1.1000-just make it nice and round!
Just need oil to head back to the mid-60s where it was going before the PPT stepped in to save DOW 10,000, and instill confidence (to lose more money) into Mr. and Mrs. Jones. Poor saps, fall for it everytime.
The one caveat and warning is I have seen in the past where the PPT "saves" the market, then it just explodes upward in momentum and short-covering. I am a bit nervous with the relatively "small" but consistent gains in equities. Sometimes these lead to large "pops" in the same direction, leading to exhaustion of the short-covering rally, nd a sharp and sudden reversal back into th impulse direction.
So keep plenty of powder available in the accounts...
I am expecting the Cable Cartel to reappear and start offering EURGBP to the world again soon. Very bearish for euro, neutral for GBPUSD. I only have a very small short in GBPUSD because of this, and a little larger short in euro.
Anything is possible-but your asking for a 200-pip decline in two days in what has been the strongest counter-usd rally pair out there.
I DO NOT expect theNikkei and European bourses to follow suit of the PPT-backed U.S. equity rally today. I have limit orders to close Aussie at 0.8956 on a position trade.
Try publishing this in the UK weekend papers: Traders bet BankofEngland will raise rates to 6.25% --highest since 1… https://t.co/GWXrTEAk4R(1 year ago)
Poor start to a slow market day as Ezone PMIs disappoint. Im still keeping an eye on the rare (-2%) USD-GOLD combo,… https://t.co/UyRzWsRbs7(1 year ago)
-5% YTD is not good, while -7% from the year highs can be tough. Gold traders have their eyes fixated on this for n… https://t.co/NV5UMKsfNo(1 year ago)
ما وراء هبوط الدولار مع الذهب و من منهما يتمكن الارتداد؟
موعدنا الآن في غرفة شركة إكس أم لجلسة الأسواق
https://t.co/Y7tD0RxCS2
@XM_COM (1 year ago)
Jobless claims > 300k before next FOMC meeting would be ideal for Fed to make up for any CPI upside surprise (1 year ago)
"Cook & Eat at Home" scheme may come next to defeat UK inflation... (1 year ago)
Earlier in the week gold selloff was attributed to smaller than exp China EASING. Metal is now holding v well despi… https://t.co/ZW9cmXTPWW(1 year ago)
قام الذهب باحترام نفس النموذج الشهري 8 مرات خلال آخر 17 سنة. شاهد الفيديو الكامل
Gold has repeated this monthly pattern 8 times over the past 17 years.Watch now.
Latest Hot-Chart - Jun 26
Bitcoin vs Miners, MSTR & COIN
The top chart shows Bitcoin price in USD, while the bottom chart shows the % change in the stock of price of various crypto miners, Microstrategy (MSTR) the 3rd biggest company owner of Bitcoin...
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What you cut and paste regarding the pair Ashraf is on record as stating that was nullified by breach of 90.21.
Thank you PPT and RBA.
I have never thought the FED will raise the Fed Funds Rate this year. And I still don't. Markets are overreacting. I will be shorting on the rally back.
Let's see if the RBA is right back at it, instructing their prop desks to bid AUDUSD higher at ALL costs.
Anyway, I am in USDCAD at only nine pips higher than you. I closed a substantial position earlier today at 1.0588. Wasn't sure I could get back in, especially at these prices. However, there is still a chance of 1.0375/50 here as the PPT-backed nonstop U.S. equity rally has accomplished its task of making everyone feel good so as to take more and more risk in trading.
1.0850? Heck no-why not 1.1000-just make it nice and round!
Just need oil to head back to the mid-60s where it was going before the PPT stepped in to save DOW 10,000, and instill confidence (to lose more money) into Mr. and Mrs. Jones. Poor saps, fall for it everytime.
The one caveat and warning is I have seen in the past where the PPT "saves" the market, then it just explodes upward in momentum and short-covering. I am a bit nervous with the relatively "small" but consistent gains in equities. Sometimes these lead to large "pops" in the same direction, leading to exhaustion of the short-covering rally, nd a sharp and sudden reversal back into th impulse direction.
So keep plenty of powder available in the accounts...
Just imagine, JUST IMAGINE what happens to pairs like USDJPY and AUDUSD when euity tides change and start to decline.
Yup, you guessed it-DESTRUCTION!
I DO NOT expect theNikkei and European bourses to follow suit of the PPT-backed U.S. equity rally today. I have limit orders to close Aussie at 0.8956 on a position trade.