Paul Rodriguez, Director of ThinkTrading.com joined Tip TV in today’s Finance show to discuss the VIX, Fed rates, Apple share price and the CAD/JPY
VIX: Broke above key resistance
Rodriguez comments how the recent move seen in VIX was significant, having broken above the key resistance at 20, and now seen coming back to support.
Fed won’t raise rates in September
On the Federal Reserve Rate hike, Rodriguez believes that the US central bank will refrain from raising rates today, and the markets might see a relief rally. He further mentions that recent fall in market shows the forward looking character of the markets which remain supportive of the view that the Fed will hold rates.
Rodriguez believes that the Fed raising rates now will be a huge policy mistake.
Watch Rodriguez’s view on the Apple stock in the Video
CAD/JPY: Wanting to break lower
On the CAD/JPY, Rodriguez comments that the weakening of CAD and JPY strengthening only happens when equities are weaker. Looking at the technical charts for the cross, he believes that further downside potential remains, and a break below 19.27 will be the likely bearish trigger.
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