The US$ weakened after FOMC and this triggered a bit of movement across numerous instruments so I have drafted charts with revised trend lines to monitor. Today brings the BoE rate update so take care if trading GBP pairs.
Stocks edged higher on re-opening optimism and the US$ was a tad higher but most instruments were little changed. I often find the markets to be quiet /choppy in the days just prior to FOMC so keep this in mind.
The US$ rally paused last session as did the rise with yields and the fall with bond prices. Whether this is a temporary stay or a turning point remains to be seen. Perhaps today’s US CPI data might help shed light on the next move here? This shift helped to trigger some of the wedges […]
The US$ Index has finally broken up and out of the wedge and daily Cloud and this has triggered some trend line breakout moves. Watch to see how today’s NFP impacts the US$ and for any new weekly chart wedge breakout. The Fed Chair, Jerome Powell, failed to soothe stock traders but there has still […]
Yields remain in focus and are being noted as the reason for the tech rout last session. I listened to a Ryan Detrick podcast yesterday where this very topic was discussed so maybe give this a listen. The US$ remains range-bound but the S&P500 is down near the 12-month support TL so watch this for […]