The key narratives for me this week:
USD flows in, equity flows out US 10 year pain barrier is 3% but 2.8% is helping hurt EM thank you very much
Talk of FED moving to a price level targeting rather than CPI at 2%. To me this means the goal posts changing. If and it’s a big IF, it could be USD negative.
Positive wages but USD is not out of the woods just yet.
AUDUSD and NZD took the worst hit so they are yours to sell.
EURUSD and CABLE ended close to prices at the start of the week. IE MIXED. This means they are resilient. German Bunds getting hammered helping support EURUSD
GOLD now well below 1345 supporting a broad USD lift post Friday’s Jobs data
USDCAD if we break 1.2510 you do not want to be SHORT
What was that song by The Boom Town Rats called ?
Tell me why I DO like Mondays ?
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