Currency market: Biden and closing prices

Brian Twomey Brian's Investment

As Biden continues where America's bummner Obama leftoff in 2016 to advance a bankrupt agendaunder obstinate false ideals, the road ahead for America will be fraught with massive spending in thename of climate change and stimulus. And given a Democrat congress for at least Biden's first twoyears, Biden must move fast to spend the money as 2022 could see the Democrats gone fromcongressional majorities.

America's GDP currently stands at $22 trillion and Biden proposes to spend about $2 trillion for stimulus,a horrible precedent set by Trump. Now we have 20 for now as a downside to GDP strips away $22trillion.

Between Climate change spending proposals at $10 trillion, free college, free money to immigrants andfree everything, America's GDP will see a remainder of $8 trillion.

The American public will see a forced conscription to assist to spending by higher taxes.

Biden will ride free and unaccountable to not only spending but the disasters ahead as the wizard won'tbe seen nor will he ever have to answer to anybody, particularly the American public. Between the newsmedia and big tech, Biden will be shielded to hold news conferences.

The recommended read is Jan Kozak "And Not a Shot was Fired". It reveals the Soviet Union plans tothe takeover of Hungary, the Czech Republic, Poland and Central America in the 1980's. Today's plansnot only haven't changed from the Soviet model but the exact replica is followed today.

Close Prices

GBP/USD looking for under 1.3615, ultimately at 1.3583. Means long then short for next week.

GBP/NZD. Close is irrelevant because EUR/NZD is the better trade for next week and highly doubtful toeven consider GBP/NZD for next week.

GBP/JPY. Close at 141.04 or under. Any higher then short for next week.

EUR/USD close right around 1.2137 and short or next week.

AUD/USD. Close under 0.7725, ultimately 0.7694.

NZD/USD. Close under 0.7216 to 0.7190.

EUR/AUD. Doesn't matter to the close.

Long from anywhere next week.

USD/CAD. Under 1.2710 then long for next week. Clos 1.2684.

Author

Brian Twomey

Brian's Investment

Brian Twomey is an independent trader and a prolific writer on trading, having authored over sixty articles in Technical Analysis of Stocks & Commodities and Investopedia.

GBP/USD off highs, back to 1.3620

GBP/USD remains slightly on the defensive at the end of the week, receding to the low 1.3600s after hitting fresh tops past 1.3670 earlier in the day. Cable’s correction comes after two daily gains in a row and amid a tepid advance in the Greenback, while poor UK data also accompany the downside.

EUR/USD treads water below 1.1700

EUR/USD now trades with modest losses around 1.1670 following another unsuccessful atempt to advance past 1.1700 the figure in a convincing fashion. The pair’s decline follows a maginal rebound in the US Dollar as market participants continue to assess recent US data as well as developments from the US bond market.

Gold trims gains, recedes to the sub-$4,600 area

Gold rapidly leaves behind Thursday’s inconclusive price action and advances markedly on Friday, briefly surpassing the $4,600 mark per troy ounce to hit three-month peaks. Meanwhile, the precious metal’s solid performance comes despite marginal gains in the buck coupled with another day of rising US Treasury yields across the curve.

Crypto Today: Bitcoin, Ethereum, XRP bulls accelerate rally amid rising ETF inflows

The cryptocurrency market remains bullish on Friday, led by Bitcoin’s surge above $77,000. Altcoins, including Ethereum and Ripple, mirror BTC’s positive outlook, trading near $2,400 and $1.35, respectively.

Week ahead – Fed’s Jackson Hole and Nvidia earnings to dictate markets

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$20 billion offered, $2 billion taken: Why Treasury doubled its buyback cap

The US Treasury moved off its own calendar on Wednesday, and that is the part worth sitting with. At 12:32 GMT, the department said it would at least double the size of liquidity support buyback operations in the 10-year to 20-year and 20-year to 30-year sectors, lifting the maximum from $2 billion per operation to at least $4 billion, effective September 9 and running to November 4.