Mixed day for yen pairs, USD took a big hit again
Another breakout move by the NASDAQ, Gold and Bitcoin are also on the move
QQQ, Bitcoin, Gold and short USD , that combo could make someone a lot of money this year
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USDJPY is on path to completely retrace last years mega move up, and as happens so often, the fall is much faster than the rise
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Stocks continue to rotate into growth as the NASDAQ(IXIC) leads, But currencies are still favoring safety. This is a divergence and should correct at some point, but will the correction favor growth or safety, guess correctly on that one and you will make a lot of money this year
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Meta reported better than exp revenue which helps the NAS100.
Caveat is after the bell today the A’s report;
Amazon, Alphabet and Apple.
Nasdaq leading the way, Spx doing good, Russell fine and dandy - but the US30 down on the day so far.
On the Nas100 - communications sector is the leader by far (Meta) with the tech sector about a third the way behind.
Get a sense that the Nas could see a pull back given the strength of a single sector - will be interesting numbers.
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Stocks got stronger into the close, and risk-on currency pair AUDJPY leads lower. That is a mixed message the market is sending, but for now I will take those gains in the NASDAQ, My 401K savings sure are happy about it
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We have a stock market clearly in Risk-on mode and a currency market having trouble deciding which way is up
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Apple revenue a miss - 6 or 7 years back since that happened.
Nas now pulling back in after trading pretty much as expected - might be a bit more tomorrow’s 1st Friday - interesting times no doubt.
Good to see continued upward path in UK Gilts (prices) - pension funds use them.
is that a short term blip and leading to a buying opportunity in audusd or nzdusd or trend reversal???..With my work, Jpy is the strongest with USD and CAD being the weakest…i still like cadjpy short even with that spike up.
USD got a big bid on Friday, it was a mixed week for the rest of our yen pairs, the top 6 are all within 1% of each other. GBPAUD is our new Top Trade, but it comes on a big reversal candle
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Still have GBP/JPY as top trade using the 50EMA match-ups, short of course. But taking into account other TA criteria, overall its not a great target. I am in cash right now with no immediate forex entry prospects anywhere.
Gbpaud looks kinda range bound to me
third day in a row we have a new Top Trade, during time of consolidation this is normal
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Yen continues to act as a risk-on commodity currency, is this the new normal?
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Of all the Yen pairs, AUD held up the best as it reclaimed #1, Top trade GBPAUD from two days ago is now positive
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How about that, we have AUD and NZD at opposite ends of the rankings
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This correct. and its strange enough alone to be a signal for caution. Its like the guard dog which didn’t bark.
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Stocks down, Yen down, the correlation continues
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tight market
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For the week, 5 of the 7 Yen pairs had green weeks, but they all finished the week very close to where they began. Yen and NASDAQ continue to trade together. The NASDAQ had its first losing week of the year
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