EURUSD 1.1535 |
USDJPY 110.08 |
GBPUSD 1.2837 |
AUDUSD 0.7358 |
USDCAD 1.3021 |
GBPJPY 141.32 |
EURJPY 126.98 |
AUDJPY 81.01 |
CADJPY 84.53 |
Silver 14.80 |
USD Eases on Trump Comments
The US dollar was broadly lower on a slow Monday session following Trump comments on Friday indicating he expected Jerome Powell to be a "cheap-money" Fed chairman. The comments were made at a fund-raiser for wealthy Republican donors at the Hamptons. There were no specific USD comments but the greenabck dropped off on the interest rate side of it.CFTC positioning showed a net euro short for the first time in 15 months.The Premium short in USDJPY was closed at 110.00 for 120 pt gain as the remarkable divergence between USDJPY and USDX continued. The chart below indicates that the USD/CNH has fallen below the USD/CNY for the 3rd straight session, meaning a lower USD exchange rate against the offshore yuan than the USD rate vs onshore yuan (more managed). This may indicate that the PBOC is more successful at swaying speculating selling against the CNY in the hard-to-control offshore market. More on this in tomorrow's Premium video.
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ECB Scenarios
The ECB decision is at 1145 GMT (12:45 London), but it's a foregone conclusion that interest rates won't change. Instead, focus on messaging and press conference 45 mins later.
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21-yr Intermarket Charts - 7 indices 11 currencies 14 commodities
Interactive charting by instrument, chronological and alphabetical order. This enables organizing each individual commodity, currency or equity index' performance by magnitude or chronological order.
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