[GVI Forex 2]

XAGUSD DAILY CHART – $30 AND 10%

XAGUSD fall from a 32.50 double top reached around 10% to today’s low.

The break of $30, meanwhile, makes this the pivotal level that will determine whether the retreat has farther to fo go.

Similar to XaUUSD, I would not be suroprised to hear JPY cArry trades being unwound.

[GVI Forex 2]

XAGUSD DAILY CHART – $30 AND 10%

XAGUSD fall from a 32.50 double top reached around 10% to today’s low.

The break of $30, meanwhile, makes this the pivotal level that will determine whether the retreat has farther to fo go.

Similar to XaUUSD, I would not be suroprised to hear JPY cArry trades being unwound.

[GVI Forex 2]

XAUUSD DAILY CHART – XAUJPY?

XAUUSD continues to struggle to regaun a footing. This leaves 2303 support as the level that needs to hold to contain the downside.

While I am not privy to what carry trades are being unwoiund I would not br surporised to hear that XAUJPY is a factor.

[GVI Forex 2]

JOLTS misses on downside (fewer job openings)… this week surprise index has been on the downside

[GVI Forex 2]

US bond yields still slipping (10 year 4.35%)… cautioius FX so far but off earlier highs… next up US JOLTS report

See our Economnic Calendar

[Mtl JP]

re yen 155 market trying to figure out
there is nothing to figure. mof / boj happi slapping backs and high-fiving:
–
The Japan Times
Japan spent record ¥9.8 trillion to prop up yen in past month
The record spending on intervention shows the government’s resolve to push back against speculators betting against the yen.

got that speculators ?

[GVI Forex 2]

USDJPY is back above 155 even as yields slip — market trying to figure out if it is yields or risk on/off driving USDJPY

[GVI Forex 2]

EURUSD 30 MINUTE CART – Supports

So far Bobby’s EURUSD 1.0860 level is holding (low 1.0858)

Note EURUSD was trading around 1.0845 yesterday just prior to the weaker ISM PMI report so a level that bulls do noit want to see trqde although chart supports are below that level.

[SF Monedge]

Well I came in yesterday saying I am a Dollar bull for the week overall and caught some heat for it in the background due to initial selling but here we are thankfully.  I am short Cable and Germany vs Dollar, long UsdSgd (Singapore), and not yet long Dollar vs Franc due to rate decision proximity.  Canadian Dollar pending (rate).  I think rates are consistent in Australia for a while and due to event risk and the gold effect am hesitant to be on the offer with that and am more focused on seeing selling begin to abate.

[Belgrade Bobby]

BTCUSD – Bitcoin Daily

Seems that lill coin is holding onto thin air right now…

Watch that support trend line below it…be careful, very very careful 😀

[Belgrade Knez]

Bobby … I am here every day …. “milking” market as much as I can 😉

[Belgrade Bobby]

Hey Knez 😀 Where have you been mate

[GVI Forex 2]

A look at the day ahead in U.S. and global markets from Mike Dolan

With a still-powerful “buy the dip” instinct in stocks, U.S. markets are having a rare bout of jitters about a slowing economy – with Treasury yields, the dollar and oil prices all swooning over the past 24 hours.

Morning Bid: Wall Street’s growth gasp as rates, dollar, oil skid</strong>

[Belgrade Knez]

June 4, 2024 at 10:28 am
Belgrade Bobby

LIKE! 🙂

[GVI Forex 2]

AUDJOY DAILY CHART – JOY THE OUTPERRFORMER, AUD THE UNDERPERFORMER

You can see why AUDJPY 102.59 is important as there is a void below it.

On the upside,stays offered as long as it trades below the 103.50 former support.

Should 102.59 be broken, 102 (psychological) is a poyential suppoty or pause level.

[Belgrade Bobby]

EURUSD Daily

Supports : 1.08550 , 1.08350 & 1.08150

Resistances : 1.08800 , 1.08950 & 1.09200

As long as above 1.08600 it is Bullish

[GVI Forex 2]

How do we know it is a run foir cover or lower bond yields or a combination?

Look at the tug-of-war day…

JPY and CHF are firmer on respective crosses… UP vs. the USD while the USD is firmer vs. the others, led by a weaker AUdUSD.

[Mtl JP]

EURO 1.0866
–
the price gap at 1.0850 still alive

[GVI Forex 2]

USDJPY DAILY CHART – 155 IN SIGHT

 

As I pointed out yesterday USDJPY was showing signs of correlating with the dip in US yields (lower) and getting some safe haven fflows  as well (US equities lower).

This has it coming in sight of the pivotal 155 level and as I also pointed out yesterday a solid move bekow 155 would be a game changer as it would shift the focus away from 158 and above.’

So watch 155 to see how USDJPY trades with key supports shown on this chart

[Belgrade Bobby]

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[Mtl JP]

USDCAD 1.3646
–
profusion of similar headline
“Bank of Canada can stomach faster rate cuts than the Fed, say economists
TD Bank expects Canada’s real GDP growth to remain less than half of that in the U.S. throughout 2024, reinforcing the Bank of Canada’s conviction in rate cuts.”

[GVI Forex 2]

US500 4 HOUR CHART – RISK OFF

US stocks disconnexting from a sharp drop in bond yiuelds, suggesting it is more of a risk OFF move.

Chart is clear, essentially 5200-5300 but have to see how equities react if there are more misses on the US data downside.

[Mtl JP]

some things are whaki today

brent: down circa 7 bucks
wti down 3 bucks

dlr down …. against the swiss for example

[Mtl JP]

TG / wouldn’t do loans I knew people would default on, for their own good

what like is to BoD when TBTF banks announce provisions for bad laons / mortgages and their stock dips.

[SF Monedge]

JP – 4:17  It is building, becoming very difficult to purchase a house in the US in populated places.  I did workouts coast to coast for a F500 bank and built a tip of the spear company doing the same but as an advocate for consumers while working coast to coast with banks and real estate companies.  The “sub-prime” financing was off the charts in the era referenced in that article, sold on the secondary market like hot lead with nothing down half the time, unless you were triple A like Bank of America.  I wouldn’t do loans I knew people would default on, for their own good, but there were still tons of them.  Then the crash from inflated paper and values.  Looks like inventory is high in Florida again.

That is definitely a USD impact and something to keep an ear on one might think.

[Mtl JP]

Not an FX tradeable but … a good financial ed read / reminder

A shady financial tool from the housing-bubble era is making a comeback – cnn

[SF Monedge]

I like the bid on UsdSingapore and UsdChf

[SF Monedge]

I am eagerly awaiting those stops Jay.

[GVI Forex 2]

ONE THING TO REMEMBER IF THERE ARE STOPS IN THE MARKET THEY WILL LIKELY BE ON THE USD DOWNSIDE UNLESS LAST WEEK’S HIGHS COME BACK ON THE RADAR.

[SF Monedge]

I am a dollar bull this week overall no matter that Eur and Sterling have pulled up.  Lot of data, so nimbleness required.

[Author]

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