July 3 (Reuters) – A look at the day ahead in U.S. and global markets from Mike Dolan
Federal Reserve chair Jerome Powell managed to smooth some election-ruffled feathers in bond markets on Tuesday, helping Wall St stocks back to all-time highs as a sweep of labor market soundings are due ahead of the July 4 break.
USDJPY 4 HOUR CHART – IN UNCHARTERED WATERS
When USDJPY established above 160 into 38 year highs and unchartered waters I point ot:
In the absence of any key levels, the most recent new high becomes key resistance.
While above 160, targets are 162-163.50-165.00.
Also, if looming for a MOF/BOJ lime in the sand, it would either be 162 or 165.
While you have t be aware of an intervention surprise when markets turn thin as over the US holiday, it would be a verydifficult task to change the mood as pressure is coming not inly vs the dollar but from various crosses,
Bank of Japan bought Y 150 billion in Japanese GB with a 10-25 year maturity, which is the same a last time and so it is a reflection that they are not panicking with Yen approaching 162, although it is a 38 year low if I am correct and so one might think caution is prudent with Yen pairs. Trail it with sell stop(s).
POLITICS
for who does the bell toll
when it is a question about the good (read survival) of the party
–
CNN
Some top Democrats want Biden to quit race this week
A growing number of Democratic leaders are saying they want him to step aside for the good of the party
and ever mind egg on their face
boyz n girls u r witnessing the finesse of brutality in politics:
no-one is bigger than the matter of life of a party
biden s a gonner. matter of even maybe only hours now
Chewy Inc. – CHWY – Doggy food…
CHWY: Chewy Stock Dives Underwater from 18% Gain on ‘Roaring Kitty’ $245M Stake
Chewy stock rallies 18%.
Shares erase gains to 7% dip.
Keith Gill behind volatile trade.
Retail trading phenomenon Keith Gill makes a move on pet-supply retailer but leaves shares worse than he found them. All bark, no bite?
GME – GameStop Corp.
Surviving for now above 22.30 , but barely.
Not much action after a Lawsuit was filed against Roaring Kitty ( The Manipulator )
Investors in GameStop (GME) have for now withdrawn their lawsuit accusing Keith Gill, who is known as “Roaring Kitty” and helped spur the meme stock mania of 2021, of defrauding them through a “pump-and-dump” scheme for the videogame retailer.
A proposed class action accusing Gill of securities fraud was filed on Friday in the Brooklyn, New York, federal court, but voluntarily withdrawn on Monday without explanation. The lawsuit can be refiled, according to the filing.
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