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Ahead of LONG week-end
rather than wait for headline (that one will never reaction-trade successfully in time) why not pre-empt it
and trade on the persons’ character personalities instead – ie. utilize anticipated behavior trading betting
“Netanyahu will do whatever I tell him to. He is a great guy”
Forex Market Snapshot
Either someone has the inside scoop on US-Iran negotiations or surging equities suggest a big bet on hopes for peace.
While stocks have risen sharply, the dollar has not joined in (i.e. by trading lower) as it continues to consolidate with a focus on EURUSD 1.16, USJPY 159 and GBPUSD 1,34.
So it will be another headline watching day ahead of the long US holiday weekend waiting to see if the hope for peace trade becomes a reality or produces a disappointment.
Crude Oil Prices Fall
WTI crude futures fell more than 2% in afternoon trading after climbing as much as 3% earlier in the session, as investors grew increasingly hopeful that the conflict involving Iran could ease.
Despite today’s pullback, oil prices remain nearly 50% above pre-war levels, supported by ongoing supply tightness.
In the United States, nearly 10 million barrels were withdrawn from the Strategic Petroleum Reserve last week, marking the largest release on record.
NVDA
NVIDIA once again surpassed revenue expectations, however Wall Street is unimpressed by what could be considered a near-perfect quarter.
NVIDIA Corporation reported first-quarter revenue of $81.6 billion, up 85% year over year, led by Data Center sales of $75.25 billion, which jumped 92%. GAAP net income came in at $58.3 billion, with adjusted EPS of $1.87. The company generated approximately $48.6 billion in free cash flow and posted a gross margin of roughly 75%. NVIDIA expects second-quarter revenue of around $91 billion and announced an $80 billion share buyback authorization.
XAUUSD – Gold
Gold fell toward $4,500 an ounce on Thursday as hopes for a US-Iran peace deal faded following reports that Iran’s Supreme Leader Ayatollah Mojtaba Khamenei issued a directive ordering the country’s uranium to remain on Iranian soil.
Also, minutes from the Federal Reserve’s latest policy meeting showed that most officials believe a rate increase this year could still be warranted if inflation remains above the Fed’s 2% target.
Gold Technicals
Bitcoin faces downside risk as leverage builds near $76K support
Bitcoin has remained under pressure below $78,000 after four straight days of ETF outflows, and a derivatives flush earlier this week which has continued to weigh on market sentiment.
Early-week liquidations have continued to influence positioning across derivatives markets.
According to Bitfinex analysts, crypto futures markets saw at least $657 million in liquidations on Monday, with long positions accounting for roughly $584 million of that total.
This triggered the oil blip/ripple effect correlations cited below
(Right click on any image (or chart) to open a full screen in a new tab)
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