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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the system must be intercon
and that means buying USD denominated assets with EUR etc. It depends much on the long end of the USTsy yield curve as the FED buys 2 y 5 y 10 y . The FED wants low yield high price US treasuries and if these are bought by other CBs the effect will be that USDx stabilizes, between 76 and 78. It is like a closed feedback loop. After all the private FED's biz is to sell greenbacks for valuables.
I understand that QE2 involves the purchase of different instruments and this pushes the dollar down. When I was watching the Mr. Topstep video, they speak of BOJ buying ETFs and the FOMC buying different instruments thursday then monday and next wednesday. Where are they getting these specific information regarding the buying schedule and the instruments involved? Is this because they are on the futures floor and speak with the brokers, or is this information published somewhere and I am clueless. Thanks.
-Rik
then US economy had in (past?) recession.
The economy of Ezone is in such a bad shape that ECB MUST devalue Euro even at the price of rising inflation otherwise EZone enters deflationary spiral.
On the other side, the NFP figure is not enough to push unemployment down, more than 200k
jobs must be added. But if recovery continues as such the Fed's decision on QE2 becomes questionable because then inflation would soar. That will be signalled by the long end of the yield curve and of course surging commodities.
Have a great weekend....
EUR PAYBACK PART 2: USD stabilizes after US jobs growth outpaced expectations in October along with +110K in upward revisions for September and August. Non-farm payrolls, rose 151K in Oct from a revised -41K (prev -95K) in September and a revised -1K (prev -57K) in August. Unemployment remained at 9.6% for the 3rd consecutive month. HOW COULD EURUSD rise 3.5% during the same 2 weeks when Irish/Greek/Spanish 10 year spreads rose 20-25% relative to Germany? Anticipation of Feds QE2 has been the main catalyst. But the euro can no longer sustain those highs solely on the back of the Fed asset purchases, while shrugging the ensuing widening in corporate spreads. Irelands ambitious new budget (yet to be approved in parliament) aims at cutting the deficit to 9.25%-9.5% of GDP in 2011 from the current 11.9%. EURO SHORTS WILL NEED need to see a weekly close below $1.40 for hopes of prolonged declines, but only a close (later next week) below the 200-week MA of $1.3938 would sharpen selling. A close above $1.40 this week, could qualify EURUSD for renewed gains towards $1.4320 & $1.4450 resistance. EURCAD DROPS below $1.41, testing its 55-week MA for the first time this year. The cross-over in weekly stochastics aiming at 1.4040-50 support, which would be followed by 1.38.
Ashraf