A couple of things about Powell's move - first, Fed follows oil, it wasn't Cramer's MARKET BLINK or interest sensitive factors --- once $56 Bear market hit the Fed took notice
Second, the Fed Minutes come out today and the cynic in me thinks there may have been some fine tuning at the last Minute on the Minutes (Powell's earlier speech about R* was a bit different)
Personal Income is released and see what the interest paid looks like - not near NORMAL
Third, Kaplan (dallas Fed talks today) - he wrote a piece about the uncertainty of R* - watch for his references // Powell has been captured by R* Theorists
It's easy to throw red meat to wolves to keep them at bay, the problem arises when you stop or worse decide to take it back -- the FED made a Big Mistake
london red 09:56:49 GMT - 11/29/2018
128 is a mark as well as daily tenkan at 12826. while below there mkt not too keen on chasing unless brexit related. a daily close abv will see more folks looking to buy dip tho.
bali sja 09:53:47 GMT - 11/29/2018
i will definitely try to sell all pops to 12820 today
kl shawn 09:50:22 GMT - 11/29/2018
red, how high is enough for you to consider the theme is correct in case of positive-brexit-news-induced pops?
london red 09:44:22 GMT - 11/29/2018
cable is so beaten up (with good reason) so can only be sold on rallies given that every so often positive brexit news drives it higher. its possible euro will do more downside than cable today. powell gave risk assets a boost yest but italy isnt going away, its just a question of when the mkt reasserts its bearish view on this. think air thin abv 115 for euro.
kl shawn 09:19:52 GMT - 11/29/2018
red, where do you suggest to sell cable today?
kl shawn 09:12:18 GMT - 11/29/2018
go usd go usd, rates rates rates
london red 09:08:02 GMT - 11/29/2018
may getting roasted by tsc...
kl shawn 08:57:21 GMT - 11/29/2018
sell cable against 12820 today
kl fs 08:55:20 GMT - 11/29/2018
looks like usd has found support in many pairs
audusd 7330ish, euro 1.1390ish, and cable 1.2850ish all sell levels
NY JM 00:36:15 GMT - 11/29/2018
Powell's testimony was foreshadowed by Fed VP Clarida yesterday yet the market ignored it.
Looking at moves in interest rates (widening of 2-10 year spread by 2.3 bp), it was more about positioning than his comments, which should not have been a surprise.
Next big hurdle is the G20 and whether Xi-Trump can smooth things over. We know Trump will say it was a great meeting so beware of his bluster.
Then there is Brexit and risk of ano vote still overhangs the pound.
GVI Forex Blog 21:25:45 GMT - 11/28/2018
John M. Bland, MBA, co-founder, Global-View.com
Fed Chair Powell Reinforces Perceptions Of A Less Hawkish Fed Policy Posture After some initial skepticism, I have turned supportive of Fed Chair Powell. What has turned me around has been his real world experience. His approach has been striking me as more pragmatic than the dogmatic approach of the academic Fed economists. I have been favoring a policy pause by the Fed here for several months now. Instead, the more academically inclined members of the Fed policy board seemingly have been hell-bent on a policy normalization at any cost.
Mon 27 May 2019 AAGB/US- Holiday Tue 28 May 2019 A 14:00 US- Consumer Confidence C 13:00 US- Case-Shiller Wed 29 May 2019 A 08:55 DE- Employment AA 18:00 US- BOC Decision A 18:30 US- EIA Crude Thu 30 Mar 2019 AAEZ/CH- Holiday A 12:30 US- Weekly Jobless Fri 31 Mar 2019 AA 10:00 EZ- Flash HICP A 12:30 US- Personal Income, Spending, Deflator AA 14:00 US- Final Univ of Michigan
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