Nasdaq 100 – NDX
Nasdaq jump 2% after dramatic sell-off
Traders are pricing in a 75% chance the Fed will cut rates by 50 basis points at its next policy meeting in September, and a 25% chance of a 25 basis point reduction. A 50 basis point cut was fully priced in on Monday, with a 75 basis point cut also seen possible.
USDCAD 4 HOUR CHART – 1.38
While there are layers of (red line) support below the market, the spike high and quick retreat has wiped the deck of buy stops.
As this chart shows, 1.3787 is a key support but as noted, there are layers of (red line) support below it.
In any case, 1,38 will set its tone.
What is WRONG with these people ??
are these folks wanna-be soviet planners ?
…”Led by Freya Beamish, economists at the investment strategy research firm said they hoped to see a coordinated message from the Bank of Japan and Fed to soothe market nerves.” …
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