Financials: June Bonds are currently 3 higher at 133’02 and the 10 Yr. Notes 2 higher at 123’23.5. We remain spread long 10 Yr. Notes/short Bonds which is currently trading at 9’11 premium the Bonds. We continue to hold short biased Eurodollar positions.
Grains: May Corn is currently 2’0 lower at 499’6 and Dec. 0’6 lower at 506’0. May Beans 2’4 higher at 1476’4 and Nov. 1’0 lower at 1208’0. May Wheat is currently 6’4 higher at 676’2. We remain spread long new crop/short old crop in Corn and Beans.
Cattle: June Cattle closed 257 lower at 134.80 and May FC 162 lower at 178.52 on Friday. If you remain short June LC either take profits or use a protective buy stop at 135.90. If you remain long the June Hog 116.00 put take profits above 240 points (the market settled at 252 on Friday).
Silver: May Silver is currently 9 cents lower at 19.87 and June Gold 3.00 lower at 1300.5. We remain long Silver.
S&P's: June S&P’s are currently 6.00 lower at 1854.00. We contiue to hold the combination of short futures and short the May 1840 put. Consider taking profits if you’re a short term trader. Longer term I believe this trade will continue to work, buy I must note that it will be at least 2 weeks until we start to see some accelerated premium decay on May options. Support is currently 1842.00 and resistance 1866.00.
Currencies: As of this writing the June Euro is currently 32 higher at 1.3732, the Swiss 41 higher at 1.1259, the Yen 13 higher at 0.9702 and the Pound 15 higher at 1.6586. We remain sellers in the Pound on rallies for short term trades. We continue to hold short biased positions in the Euro.
Futures and options trading involves substantial risk of loss and may not be suitable for everyone. The valuation of futures and options may fluctuate and as a result, clients may lose more than their original investment. In no event should the content of this website be construed as an express or implied promise, guarantee, or implication by or from The Price Futures Group, Inc. that you will profit or that losses can or will be limited whatsoever. Past performance is not indicative of future results. Information provided on this website is intended solely for informative purpose and is obtained from sources believed to be reliable. No guarantee of any kind is implied or possible where projections of future conditions are attempted.
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EUR/USD stays below 1.0800 after upbeat US data
EUR/USD stays under bearish pressure and trades slightly below 1.0800 in the American session on Thursday. The data from the US showed that the real GDP growth for the fourth quarter got revised higher to 3.4% from 3.2%, supporting the USD and weighing on the pair.
GBP/USD stays in daily range above 1.2600
GBP/USD fluctuates in a narrow channel above 1.2600 on Thursday. The better-than-expected Initial Jobless Claims data from the US and the upward revision to the Q4 GDP growth helps the USD stay resilient against its rivals and limits the pair's upside.
Gold clings to strong daily gains above $2,200
Gold retreats from daily highs but holds comfortably above $2,200 in the American session on Friday. The benchmark 10-year US Treasury bond yield stays above 4.2% after upbeat US data and makes it difficult for XAU/USD to preserve its bullish momentum.
XRP price falls to $0.60 support as Ripple ruling doesn’t help Coinbase lawsuit against SEC
XRP programmatic sales ruling by Judge Torres was completely rejected by another US Court that ruled in favor of the SEC in a lawsuit against Coinbase.
Portfolio rebalancing and reflation trades emerge into Q2
Yesterday’s price action pointed at a possible end-of-quarter portfolio rebalancing as the session saw the laggards of the quarter like Apple and Tesla gain, and the stars like Microsoft and Nvidia retreat.