Deleveraging even hits semis [Video]

Dale J Pinkert Independent Analyst

Trading covers the ongoing deleveraging across markets, which is now impacting semiconductor stocks as well. The coach discusses the bearish action in former Wall Street darlings and provides an update on the continuation of the U.S. dollar rally. Precious metals, as expected, failed during yesterday’s rally attempt, while the coach believes Bitcoin and Ethereum are setting up for a potential rally. The session also examines declining interest rates and what this could mean for USD/JPY moving forward.

Author

Dale J Pinkert

Independent Analyst

Former Member of the Chicago Mercantile Exchange (IOM Division), Dale's market forecasts have been aired on Financial Television and Radio station including CNBC.

EUR/USD faces extra pressure, drops below 1.1800

EUR/USD trades on the defensive, slipping back below the 1.1800 support on Thursday, all in response to decent gains in the US Dollar. Earlier on Thursday, the ECB matched consensus and left its policy rates unchanged, while President Largarde delivered quite a neutral press conference.

GBP/USD falls to new lows near 1.3530

GBP/USD extends Wednesday’s pullback on Thursday, easing lower towards two week lows around the 1.3530 area. Ongoing strength in the Greenback and the dovish hold from the BoE at its earlier meeting are keeping demand for the British Pound on the defensive for now.

Gold remains offered around $4,800

Gold is back under pressure on Thursday, slipping back towards the $4,800 region per troy ounce. A firmer US Dollar is weighing on the yellow metal, even as the broader mood remains risk off. That said, falling US Treasury yields across the curve are helping to cushion the downside and, for now at least, are limiting the depth of the pullback.