[Belgrade Bobby]

S&P 500 Posts Weekly Gain, Closes Near Record Highs as Technology Sector Rallies

The Standard & Poor’s 500 index rose 1.6% this week, reaching new highs, led by the technology sector.

The market benchmark closed Friday’s session at 5,431.60, slightly below its record closing level of 5,433.74 reached on Thursday. The S&P 500 also hit a new intraday high on Wednesday at 5,447.25. It is now up 2.9% for the month to date and up 14% this year.

 

[GVI Forex 2]

France: Cac 40 lost 6.25% this past week.

[GVI Forex 2]

Ftench Cac 50 lost 6.25% this past week.

[GVI Forex 2]

Nasdaq closed at a record high for 5 th day in a row.

I read calls for another Bank of Canada rate cut in July

Biden-Trump debate in 10 days

First French poll on June 30

IS data has mainly missed on downside but a light calendar next week

No one is talking about stagflation or recession. I read there has only bern one soft landing and that was in 1995

[GVI Forex 2]

As a trader, all you should want from a broker is one that is repotable, provides you with a level playing field, and one you  don’t have to worry about being in business when you wake up.

This article shows you…

How to Choose a Forex Broker

 

 

How to Choose a Forex Broker

[GVI Forex 2]

This past week started out with the EURO coming under selling pressure on French political concerns, got a reprieve mid-week when US CPI came in soft, and ended it on a weaker note with French politics again the focus. However, it did manage to come off its lows after EURUSD paused above its 2024 low.

This sets the stage for the coming week where a light US calendar leaving the focus elsewhere.

Newsquawk Week Ahead 17-21st June: Highlights include PBoC MLF/LPR, Chinese Activity Data, RBA, US Retail Sales, UK Inflation, BoE, SNB, Norges, Japanese CPI, Flash PMIs

 

 

Newsquawk Week Ahead 17-21st June: Highlights include PBoC MLF/LPR, Chinese Activity Data, RBA, US Retail Sales, UK Inflation, BoE, SNB, Norges, Japanese CPI, Flash PMIs

[GVI Forex 2]

The prop industry has been shaken of late with traders wary if the irfirm will be around if they get funded and have profits to withdraw.

We had given up promoying prop firms until we came across one we feel is repitable. See foir yourself.

Check it out:FXIFY

Check it out:FXIFY

[michael Calif]

repost  –  daily USD futures remain Long during pullback from mid-April highs   :Option Profile

[SF Monedge]

I should qualify my earlier statement.  My recommendation is strong, I am the furthest thing from stupid.  There was a time THE Vice President of a national title company would drive me all over California, and I was given VIP status where the order was “Ay time Mr. ___ shows up at your office you give him whatever he needs.  I went from broke to having the trust of major banks.  I called THE Vice president of a major bank and said “Rob its Tom I have another one, GMAC has it the numbers will work, and he called the courthouse steps to stop the foreclosure, and the Widow calls you up crying thanking you and your wife is crying saying I love you … and I didn’t charge that widow a penny.  That is they type of person you should be working with.  I have spoken with Jay.  He is one of them.

[SF Monedge]

Not to hog the foum but I also have a recommendation, as someone who has dealt with bank traders across the globe, and in person in various cities.  There was a rule in my office, when I literally was doing so much business I took over an entire building and everyone in that building ended up working with me.  They had a home and loved the vibe.  We burned out 3 fax machines in one month we were so busy.  The unspoken rule was that if you are a sour person you would simply not last in that office.  They would just evaporate on their own, the nice people stuck.  I did not tolerate sour attitudes.  Surround yourselves with nice people like Jay at Global View.

[SF Monedge]

I dedicated time to studying Amazing Trader and comparing to some things.  I found it to be quite useful.  As a former CTA I find no problem recommending it to anyone either as a main tool or complimentary to what you do.  The method is very similar to the way I used to participate.  I do things much differently now but definitely pay attention to what Jay is providing.

[SF Monedge]

My belief is the risk on (Euro) environment is shifting to risk off, you could see it last week despite the price activity, primarily in forwards and options.

[GVI Forex 2]

Big miss in U of M consumer sentiment on the downside but inflation expectations 1 year unch and 3-5 year moved higher

[Belgrade Knez]

June 14, 2024 at 12:00 pm
Belgrade Bobby

LIKE! 🙂

 

[GVI Forex 2]

USDX DAILY CHART – MORE THAN A EURUSD PROXY

 

 

USDX EXTENDING HIGHS AS THE DOLLAR FIRMS ACROSS-THE-BOARD.

Looking at this chart, if 1.0582 is cleared, then the major 106.60 level comes on the radar, suggestong more scope for the EURUSD downside if there is a break above this level.

[GVI Forex 2]

Note how EURUSD backed off after French stock bounce ran out of steam

French stocks are now down on the year.

[Belgrade Bobby]

EURUSD Daily

1.06450 Last line of defence for EUR.

Bellow this one, the space opens and the first level coming in play is around 1.02000

Then Parity…then 0.96000

Pick your choice…

Resistance 1.07150 & 1.07400 now.

 

[GVI Forex 2]

More important sign is that German-French bond yield spread is widening.

[GVI Forex 2]

EURUSD seems to be following a bounce in French stocks off the lows.

[GVI Forex 2]

Stocks;

Starting off the day in risk off

[GVI Forex 2]

June 14 (Reuters) – A look at the day ahead in U.S. and global markets by Alun John.

How U.S. consumers are feeling is the question for today, though it could be one of those relatively rare occasions when it’s developments in Europe and Asia that are driving the macro picture.

The University of Michigan’s consumer sentiment survey is due and last month’s reading was at a six-month low.

Morning Bid: Consumer check, but don’t forget France and Japan

[GVI Forex 2]

USDJPY 1 HOUR CHART – Whipsaw

 

Whether it was the BoJ covertly intervening above 1589 or safe haven flows selling EURJPY or a combination of both, USDJPY has whiosawed and is back into its range.

It is now dependent on 156.50-79 holding to keep the focus on 158.

[GVI Forex 2]

SAFE HAVENS ON FLIGHT FROM THE EURO

USD (EURUSD)

GBP (EURGBP)

CHF (EURCHF)

JPY (EURJPY)

[GVI Forex 2]

fRENCH ELECTION DATES

A long time for the cloud to hover over the EURO

SUNDAY JUNE 30 – SUNDAY JULY 7

[GVI Forex 2]

EURUSD DAILY CHART – RUN FOR COVER

 

 

EURUSD started the week down on French political news => raliied mid-week on US CPI -> ending the week down on French politics

Daily chart is clear, as long as it staYs below 1.0723 risk is for the MaY low at 1.0649 with the 2024 low at 1.0600 below it.

[GVI Forex 2]

FRA 40 CAC40) CFD WEEKLY CHART – WHY THE EURO IS WEEK

 

One look at the weekly French stock market tells you why the EURO has turned weak –FRENCH POLITICAL CONCERNS

[GVI Forex 2]

French politics weighing on euro

9( I was the I would be BoJ defending USDJPY above 158

[GVI Forex 2]

This is one of our most popular articles and after reading Knez’s post about 1.0850 it is worth showing again, both for those who have not read it and as a reminder for those who have read it as well.

My Favorite Trading Secret: The Power of the “50” Level

My Favorite Trading Secret: The Power of the “50” LevelI’m

[Belgrade Knez]

Wednesday was perfect retrace on EU to fill the opening gap and FVG up to 1.0850, then ystd back to down journey….. on my chart weekly needs to close below 1.0750 today to stay bearish ….. I love when price moves by the book. 🙂

Now price tested weekly low at 1.0719 next is to test previous month low at 1.0649

[GVI Forex 2]

USDJPY spikes briefly above 158 after BoJ decision not to reduce bond purchases

[Author]

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