AT ALERTS – 15 MINUTE CHART ALERTS TODAY
Using a 0.25% risk and a 1.25 risk/reward
GVI forex 10:17 “market infused with interest rate cut excitement across the G7”
“Specific vulnerabilities may arise from the complexity and opacity of AI models; inadequate risk management frameworks to account for AI risks; and interconnections that emerge as many market participants rely on the same data and models,” she says.
Is there something new under the sun janet ?
EYE on yellen
Yellen’s prepared remarks highlight the risks posed by the use of AI in finance
A look at the day ahead in U.S. and global markets from Mike Dolan
Wall Street’s tech-led stock surge to new records has seen $3 trillion AI-champion Nvidia (NVDA.O), opens new tab replace Apple (AAPL.O), opens new tab as the world’s 2nd most valuable company in a market infused with interest rate cut excitement across the G7.
Morning Bid: New highs as Nvidia tops Apple, ECB and BoC easing
EURUSD 4 HOUR CHART-ECB TIME
This is one of the more telegraphed monetary policy decisions, a 25bp rate cut with no commitment to future cuts.
To keep this really simple, EURUSD should find support as long as it trades above 1.08.
Techncially, the upside will remain at risk as long as it trades above 1.0827.
Summary
ECB to cut deposit rate to 3.75% from 4.0%
Lagarde likely to stress no room for complacency
Recent data points to stronger growth, inflation
FRANKFURT, June 6 (Reuters) – The European Central Bank is all but certain to cut interest rates from record highs on Thursday and acknowledge it has made progress in its battle against high inflation, while also stressing the fight is not yet over given sticky services prices.
ECB to start cutting rates even as inflation fight continues
June ECB meeting preview: The long-awaited cut
Investors and financial markets will be very surprised – and not at all happy – should Thursday’s ECB announcement not include the first cut in key interest rates since September 2019. With even the more hawkish Governing Council (GC) members having now adopted a notably more dovish line, recent central bank rhetoric has seemingly made a 25 basis point reduction a done-deal. This would lower the key deposit rate from its current record high to 3.75 percent, the refi rate to 4.25 percent and the rate on the marginal lending facility to 4.50 percent.
Assuming that rates are cut, the focus will be on any forward guidance for possible clues about when the next ease might be delivered. Any move on Thursday would necessitate some amendment to the existing language that, in a nutshell, says that current levels are thought to be appropriate for sustainably meeting the inflation target. … truncated
Econoday
Yesterday job openings showed decline and today the services index showed expansion. Services, not manufacturing. An argument could be made the S/P 500 stops dead near 5350 coming up. Dxy is still bid factually today overall despite the intra-day pause. That would transfer to Bitcoin as well since some people amazingly consider it an asset to trade like stocks right now.
USDCAD 4 HOUR CHART DOVISH BOC BUT…
You couldn;t get any more dovish than the BOC rate cut and statement yet USDCAD stopped dead on around Amazing Trader resistance.
Does this suggest it is a prelude to tomorrow’s ECB expected rate cut, which is expected to take a more cautious tone looking ahead.
© 2024 Global View