Futures are off modestly this morning on bearish rumblings in the currency space.
continued for members…
The equity picture remains unchanged.
EURUSD has more convincingly dropped through its previous lows. It should be increasingly clear that it is headed for at least a test of its former lows. My expectation is that the euro will reach dollar parity.
USDJPY keeps creeping higher – one of the few bullish impulses for stocks.
If DXY’s channel remains intact, we get a cross of the .886 in mid-May. But, at this point, it’s not at all clear that DXY won’t break out.
GC and SI continue to push past upside resistance. So far so good.
BTC continues to settle lower.
CL and RB are still inching higher, with RB pushing past a backtest of its recently broken TL but CL respecting its so far.
This continues to put upside pressure on rates.
A reminder, I’m on the road all week. So, posts will be brief and occasionally late.
GLTA.