EURO 1.0887
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parked just abouve earlier 1.0875
the risk to the puppy going higher is jerome
IF he somehow thins out the smoke of recent likely rate cuts later in 2024 smoke signalings
JP -EU needs s safe haven kitty. Next week UsdChf should target 8800 and 8860 to open Monday. Just my parameters. Usually does not miss. Ordinarilly currencies reverse the flow of Monday and Tuesday on Wednesday and continue Thursday only to make everyone nuts on Friday when portfolio managers are seeking balance. A bad word lol. This week it stuck, hence why we are all shaking our heads.
Hah…. Thanks, I think. Funny day. Just when I thought ok we’re set for some across the board directional follow thru -> Nothing.
Lets review
– Quad witching today.
– US yields higher.
– BoJ guy hints at policy rate change (higher) at next weeks meeting.
– Dovish comments on economy and rates (lower) from ECB guys.
Yet-> JPY weaker, EUR stronger against some flat against others, Copper Silver higher. Not a whole lot of logic found here.
FX market (read EUR) remains as non-comital as it’s been over the last year. I think it’ll stay that way with a bias against the weak links (chf) over the next few weeks.
Stocks I think are running on air which could see a downdraft the next six weeks or so. That said is it really worth trying to time the stock market as in the long run it only goes up.
Bonds not going up any time in the forseeable future. There’s A LOT of people that enjoy earning an effortless 5%……
CBs, rates and make or lose trading opps 3rd week of March
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Frank what is your take on SNB (in)action next 03/21 ?
tia
For a few reasons I do not think SNB will cut despite – relatively to other jurisdictions – nice inflation/ary numbers.
As I am biased (i.e. opinionated) I am expecting to continue to be swissy negative in my trading it.
EURJPY 4 HOUR
I was asked why the dollar is not moving up with higher yields today.
My answer: Look at the JPY where weak crosses are giving other currencies, such as the EURUSD, some offset support.
So, take a look at EURJPY, which is testing the next resistance at 162.18.
161.70 is now the key support.
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