It was a bit of a mixed bag last session. Risk aversion was back with growing concern about a post pandemic recovery as US weekly unemployment claims rose unexpectedly. US Bonds were higher and yields lower, as was the US$. I suspect the announcement about the Tokyo lock down might have been at least partly […]
The US$ has edged higher and the stock melt up continues but there isn’t much momentum across on Forex markets. Some of the chart patterns have been revised but they still reflect potential for some broad-based consolidation.
The US$ is higher ahead of today’s Fed Meeting Minutes and this has triggered some sharp reversal moves across Forex pairs. Key horizontal levels are back in focus for some pairs and I will be revising chart patterns, if necessary, after the Fed Meeting Minutes are digested.
It is of little surprise that it has been a relatively slow start to the trading week given the US 4ht July holiday Monday. Today is RBA rate update day so watch for any impact on the $AUD and XJO.
Last week: There were a number of small trend line breakout trades last week and new all-time closing highs again for the S&P500, DJIA and NASDAQ following NFP and ahead of the 4th July holiday weekend. The US jobs report was somewhat mixed with the biggest jobs gain since August 2020 but yet the headline […]