Financials: June Bonds are currently 1 lower at 157’19, 10 Yr. Notes 2 lower at 127’23 and 5 Yr. Notes 1 lower at 119’26. June German Bunds are 50 lower at 156.20. If you remain short the Bund either take profits or lower your protective buy stop from 158.30 to 157.60. We have taken profits on the long Sept. 2015/short June 2017 Eurodollar spread.
Grains: July Corn is currently 1’6 lower at 361’2, July Beans 6’6 higher at 971’0 and July Wheat 4’0 lower at 469’2. We remain long Corn with a protective sell stop 9’0 below the market.
Cattle: Live Cattle settled slightly lower on Friday and Feeder Cattle moderately higher. I am still on the sidelines waiting for a 250 point rally to enter the market from the short side. We have taken profits on all long June Hog calls and/or call spreads.
Silver: July Silver is currently 20 cents higher at 16.33 and June Gold 8.00 higher at 1182.50. We remain long Silver. AS for Gold we are long but I have to admit that Thurs. & Friday’s break has somewhat shaken my confidence in this position. If you remain long Gold consider taking the loss on this rally or raise your sell stop to 1171.00.
S&P's: June S&P’s are currently 6.00 higher at 2107. On last Thursday I had recommend either taking profits or lowering your stop to the 2107.00 area. I am now on the sidelines.
Currencies: As of this writing the June Euro is currently 39 lower at 1.1159, the Swiss 10 lower at 1.0710, the Yen 4 higher at 0.8329 and the Pound 19 lower at 1.5108. If you once again went short above the 1.1200 level on the Euro, take the quick profit.
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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.