[GVI Forex 2]

Fed hawk

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[GVI Forex 2]

Next up: US data: Weekly Jobless Climsm Philly Fed, S&P flash PMI

See our Economic Data Calendar

[GVI Forex 2]

USDJPY

USDJPY outperforming (JPY underperforming) but faces resistance at 147.90-148.10-148.16 ahead of the key 148.51 level.

Hint:  When you see USDJPY diverge from others, there is usually  cross flow involved so look for offsets elsewhere.

Supports: 147.48, 147.34, 147.00

USDJPY 4 HOUR CHART

[GVI Forex 2]

USDJPY

USDJPY outperforming (JPY underperforming) but faces resistance at 147.90-148.10-148.16 ahead of the key 148.51 level.

Hint:  When you see USDJPY diverge from others, there is usually  cross flow involved so look for offsets elsewhere.

Supports: 147.48, 147.34, 147.00

USDJPY 4 HOUR CHART

[ST London]

U.S. tech stocks seem to have found a level following two days of sharp pullbacks, but the Treasury market was unnerved by the latest Federal Reserve drama just as everyone awaits the central bank’s annual Wyoming jamboree.

U.S. stock futures ended in the red again on Wednesday, driven by a whole host of AI and tech sector jitters ahead of Nvidia’s big earnings release next week. But stock futures seemed to find a foothold ahead of today’s bell, with attention turning back to the Fed following President Trump’s demand for the resignation of another Fed board member – Lisa Cook – over allegations of mortgage fraud that she insists she will contest.

If Cook were forced out, Trump would then likely secure a majority of his appointees on the seven-person Fed board by next summer. If Chair Jerome Powell, who gives his keynote Jackson Hole speech on Friday, steps down as a board member when his chairmanship ends in May, then a majority of deep rate cut advocates could well emerge on the Fed’s policymaking committee with the support of just one regional Fed boss…From Reuters Tech Fright Calms But Fed Pressure Grows

[GVI Forex 2]

GBPUSD

Breaking both sides of a tight 1.3447-71 range with a lift coming from a better flash PMI.

Some caution though after yesterday’s whipsaw after an initial spike higher on hotter CPI did not follow through.

To keep it simple, 1.3450 sets the intra-day bias while within 1.34-1.35, above 1.3500-10 needed to turn it bid.

Note GBPUSD getting some support from its crosses, most notably a firmer GBPJPY as the JPY underperforms today. EURGBP is lower as well.

GBPUSD 1 HOUR CHART

[GVI Forex 2]

Newsquawk Daily US Opening News

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[GVI Forex 2]

[GVI Forex 2]

XAUUSD (GOLD)

3350 once again confirmed as the pivotal level while within 3300-3400 with a brief test not following through

This leaves XAUUSD struggling for momentum with moves outside 3300-11/3350-60 needed to break the logjam.

XAUUSD 1 HOUR CHART

[GVI Forex 2]

Using my platform as a HEATMAP shows,,,

.. the dollar trading mixed in a calm before the Powell at Jackson Hole day tomorrow.

GBPUSD and EURUSD getting some support from flash PMIs, the latter finding support aat 1.1620-25.

On order of strength vs the USD

1. GBP

2. NZD

3. EUR

4. CAD

5. CHF

6. AUD

7. JPY

[GVI Forex 2]

Posted in our blog

Trump’s Pressure on the Fed: A Threat to Independence?

[GVI Forex 2]

Fed;s Cook stands her ground

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[GVI Forex 2]

Newsquawk Daily Asia-Pac Opening News

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[GVI Forex 2]

Newsquawk US Market Wrap

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[Belgrade Bobby]

NIO Inc.

Nio heroically held its ground today , and now we have a positive situation

Pattern indicates a move Up tomorrow , with the target at 5.35

Resistances at : 5.15, 5.25 & 5.35

Supports: 5.00, 4.95 & 4.80

[Belgrade Bobby]

Palantir Technologies Inc. – PLTR

Sharp rebound after hitting a low at 142.35 – about 10% back up….

A good signal ?? Well might be, but before it can break back above 159.55 & 166.25 it can easily slip more down towards 125.45

Supports: 151.05 & 142.35

Resistances : 159.55, 160.90 & 166.25

[Belgrade Bobby]

 Nvidia – NVDA

After hitting a support at 169.00 , Nvidia rebounded sharply

I wouldn’t read too much out of it until it faces resistances and we see the reaction.

Resistances: 176.00, 179.15 & 183.00

Supports: 170.90 & 169.00

Uptrend channel is Intact.

[Belgrade Bobby]

Top Gainers US Stocks Today

[Belgrade Bobby]

Large Cap US Stocks – End of the Day
After quite a turmoil today, some calmness prevailed – Still all in Red ( except Hathaway of course 😀 but not as bad as it looked during the day…

[GVI Forex 2]

NAS100 (NASDAQ)

The stall above 22946 has potential to be a low but only a move back of 23385 would break the down momentum and confirm the low is in or at least a pause.

NAS100 4 HOUR CHART

[GVI Forex 2]

US500 (SP500)

Bounce dead on off 6347 support has potential to be a low or at lest a pause BUT requires a move above 6414 to break the down momentum and then above 6421 to restore a bid.

Otherwise risk stays on the downside.

US500 4 HOUR CHART

[GVI Forex 2]

XAUUSD (GOLD)

Bulls finally woke up to the risk off mood.

Pause above 3300 (low 3311) and move back to 3345 breaks the downward momentum but needs to regain 3350 (Wed high) to restore a bid targeting 3358-75.

XAUUSD 4 HOUR CHART

[GVI Forex 2]

FOMC minutes: Little reaction but sounds more hawkish than dovish.

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[GVI Forex 2]

10 year bond yield ahead of the FOMC minutes

 

[GVI Forex 2]

GBPUSD

Continues to be pressured out of weak crosses (vs CHF, JPY, EUR)

After the failure to regain 1.35, 1.3450 becomes pivotal, with next support not until 1.3399-1,1414,

GBPUSD 4 HOUR CHART

[GVI Forex 2]

US500 (SP500)

When I say Amazing Trader levels matter, you can see why on this chart after the bounce following a test of 6347.

To make this a low or at least a pause level, 6400+ would be needed. 6421+ would be needed to indicate a break in the down momentum.

US500 4 HOUR CHART

[GVI Forex 2]

What’s hot and what’s not?

What’s hot?

The dollar is mixed with winners (hot) and losers (cold) in a risk off market

Winners: CHF, JPY, EUR

GOLD is up

Bitcoin is up

US bonds are firmer (yields down)

What’s not?

Losers: GBP, AUD, NZD are weaker vs the USD

US stocks are down again (except DJIA)

Next focus: FOMC minutes

[GVI Forex 2]

This came out a short while ago, in lind with earlier Trump post.

‘

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[Mtl JP]

EURO 1.1663
back N of its 50dma

USD’s upside, for a few reasons, is limited and likely to continue to slide
I am still biased to be selling DLR pops

[Mtl JP]

“Pressure campaign against Powell and the Fed does not inspire confidence”

not inspire confidence in what pray tell
— everyone knows this clown is done. Winners, just like authentic contestants, know when to leave the podium after their act is done. Jerome is aping the embarassing “stage off” a la biden.

[Author]

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