EURUSD 1.1851 |
USDJPY 111.52 |
GBPUSD 1.3772 |
AUDUSD 0.7485 |
USDCAD 1.2406 |
GBPJPY 153.59 |
EURJPY 132.15 |
AUDJPY 83.48 |
CADJPY 89.86 |
Silver 26.23 |
Friday's $2431 high in gold consisted of a 21% rise from the Feb 14th low. Such percentage extensions from key lows or/and technical levels such as the 200-DMA, could flag crucial opportunities for partial/full profit-taking. Watch here.
Bitcoin versus Miners Performance
As many of you know 2023 was kind to members of our WhatsApp Broadcast Group who snapped up shares in bitcoin miners, while 2024 has so far been more superior to Bitcoin than most of the miners...
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One simple way to make that spread visible at least in relative terms is to try bloomberg.com.
E.g., go tohttp://www.bloomberg.com/apps/quote?ticker=USGG10YR:IND in the internet explorer. Once you get a graph, in the lower left corner, where it says "add a comparison", type in GDBR10:IND, then press Add.
Ashraf, what is your opinion (may I ask here) of the BBH fx research?
Could you briefly describe (or provide a good link) a possible further scenario of the Irish debt crisis? I take it they can not officially apply for any financial assistance until the next year budget has been voted on, which is not going to happen until December, right? That would probably mean some sort of a range for the EUR/USD towards the end of the year?
What I gather is that it is not the all time high China inflation, their ppi has been on the higher side of things for a while now, and that apparently there's no hike coming up this month (?), as authorities are confident to stop its further growth in December.
Besides, OECD oil floating ship reserves are reported down, just as crude imports into the US. Now I may be wrong but the price momentum is very strong.
Anecdotal evidence suggests that as Chinese party authorities recently cramped down on the electricity usage by local producers, the latter switched off the electric grid and turned to burning heavy oils instead. So further improvements in the official statistics guaranteed :)
The PBOC just auctioned 1y bills at 2.3437%, over 5bp higher than last weeks rate at 2.2913%, which was still higher since the policy rate hike on 19 Oct.
Do you think this is an important signal of further tightening on the way? Perhaps, Chinese CPI over 4 per cent on Thursday?
Should we be watching any announcement from PBOC around noon GMT? Again, if that is the case, what are the chances of a repeat October 19?
The guys at Mr. Topstep most certainly referred to the so-called POMO days, i.e. the days when the Fed undertakes its promised purchases of Treasuries. These are pre-announced, I think, on the monthly basis. Zerohedge.com keeps a very good track of that schedule