AFTER A SECOND ROUND OF INTERVENTION THIS ARTICLE IS WORTH READING
Currency Intervention and Why the JPY is Called : “The Devil”</a>
Currency Intervention and Why the JPY is Called : “The Devil”</a>
XAUUSD 4 HOUR CHART – Back above 2300
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After a brief run below 2300 XAUUSD is back above it.
As you can tell by this chart 2352 remains a key level on top.
With its record high far away, 2300 will likely set its tone with a break of 2352 needed to shift the focus back towards 2400.
Keep an eye on BTC 60000 to see if it follows XAUUSD’s lead.
USDJPY 4 HOUR CHART – THE EMPIRE STRIKES AGAIN
The BoJ is taking a risk of overplaying its hand by presumably slamming the market at its thinnest hour.
With that said, it is a warning to be on guard but unless it can get USDJPY below 155 (low on this round was 152.99, last at 155.10) it risks only restoring a two-way risk, not reversing it.
Technically, there is a lower top and a lower bottom so some damage done but still an aftershock unless sub-155 is established.
according to bbrg
–
Treasuries Rally With Fed Not as Hawkish as Feared: Markets Wrap
(Bloomberg) — The world’s biggest bond market surged as Jerome Powell downplayed the possibility of rate hikes and the Federal Reserve said it will shrink its balance sheet at a slower pace to ease strains in money markets.
The expectation – no change by the Fed. The strength – USD overall. The economy – signs of weakness appearing of late. My belief is initially stocks and Euro won’t behave well but likely pull up post-Fed after a great deal of volatility and reluctantly continue to find buyer interest into next week. In my book 0685 Euro has to clear and hold for bids to find daylight that sticks.
from nurse jeff cox
…” could be months — or even longer”…
talking about how long FED could be keeping rate between 5.25%-5.5%
now I am not sure I undersdand what “even longer” than “months” means. You ?
tia
Banking 102
– pay attention peasant:
“If a failing bank is insured by the FDIC, all depositors will be paid “up to at least $250,000 per depositor, per FDIC-insured bank, per ownership category.”
https://www.cnbc.com/2024/05/01/why-hundreds-of-us-banks-may-be-at-risk-of-failure.html
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