Majors
EUR/USD: SHORT AT 1.3615 FOR REVISED 1.3477; STOP AT 1.3695
USD/JPY: SELL 101.73 NOT FILLED, POSS BUY LOWER, AWAIT SIGNAL
GBP/USD: LONG AT 1.6960 FOR 1.7105; REVISED STOP AT 1.6965
USD/CHF: LONG AT .8940 FOR .9064 OBJECTIVE, STOP .8882
AUD/USD: BUY AT .9355 FOR .9544; STOP AT .9290
USD/CAD: SELL AT 1.0747 FOR 1.0589 STOP AT 1.0817
Crosses
EUR/JPY: SELL AT 138.65 FOR 137.38 OBJECTIVE, STOP 139.02
EUR/GBP: SHORT AT .8015 FOR .7887; STOP AT .8065
EUR/CHF: SHORT AT 1.2190 FOR REVISED 1.2123; STOP AT 1.2194
EUR/CAD: SHORT AT 1.4750 FOR 1.4410 OBJ, REVISED STOP 1.4650
GBP/JPY: LONG AT 171.10 STOPPED FOR PROFIT AT 172.40, POSS SELL
NZD/USD: LONG AT .8705 FOR .8842; REVISE STOP AT .8720
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Editors’ Picks
AUD/USD could extend the recovery to 0.6500 and above
The enhanced risk appetite and the weakening of the Greenback enabled AUD/USD to build on the promising start to the week and trade closer to the key barrier at 0.6500 the figure ahead of key inflation figures in Australia.
EUR/USD now refocuses on the 200-day SMA
EUR/USD extended its positive momentum and rose above the 1.0700 yardstick, driven by the intense PMI-led retracement in the US Dollar as well as a prevailing risk-friendly environment in the FX universe.
Gold struggles around $2,325 despite broad US Dollar’s weakness
Gold reversed its direction and rose to the $2,320 area, erasing a large portion of its daily losses in the process. The benchmark 10-year US Treasury bond yield stays in the red below 4.6% following the weak US PMI data and supports XAU/USD.
Bitcoin price makes run for previous cycle highs as Morgan Stanley pushes BTC ETF exposure
Bitcoin (BTC) price strength continues to grow, three days after the fourth halving. Optimism continues to abound in the market as Bitcoiners envision a reclamation of previous cycle highs.
US versus the Eurozone: Inflation divergence causes monetary desynchronization
Historically there is a very close correlation between changes in US Treasury yields and German Bund yields. This is relevant at the current juncture, considering that the recent hawkish twist in the tone of the Federal Reserve might continue to push US long-term interest rates higher and put upward pressure on bond yields in the Eurozone.