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Fed Financial Stability Report: Asset Prices May Be Vulnerable if Risk Appetite Falls

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  • Forex Update: As of 20:00, these are your best and worst performers based on the London trading schedule: 🇨🇦CAD: 0.98% 🇨🇭CHF: 0.60% 🇦🇺AUD: 0.49% 🇳🇿NZD: 0.26% 🇯🇵JPY: 0.11% 🇬🇧GBP: -0.09% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/4u2cNfSmLn
  • RT @BrendanFaganFx: Federal Reserve Hints at Potential Declines in Asset Prices, Calls for Hedge Fund Transparency #Fed #FederalReserve #F…
  • Both EUR/JPY and EUR/USD are hovering near multi-year downtrend downtrends, while EUR/GBP may still have more room to the topside. Get your $EUR market update from @CVecchioFX here:https://t.co/2SYCKwz8hz https://t.co/tj6UQUDzRL
  • Commodities Update: As of 20:00, these are your best and worst performers based on the London trading schedule: Silver: 3.18% Gold: 1.61% Oil - US Crude: 0.31% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/mo9LS3teJl
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 86.18%, while traders in Wall Street are at opposite extremes with 78.09%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/F4HwBZ2LvK
  • Fed says the markets are at vulnerable to dropping if risk appetite falls. To any normal person that is obvious. From the central bank that is a passive aggressively projecting a concern
  • Fed's Brainard: - Potential hedge fund threats need further transparency - Archegos demonstrates the limit of visibility on hedge fund risk
  • Fed Financial Stability Report: - In late 2020, major banks' credit lines to non-bank financial institutions rose, reaching new high of $1.6 trillion by year's end
  • Fed Financial Stability Report: - Broad range of asset prices could be vulnerable to large & sudden declines - Household debt is moderate relative to income
  • Indices Update: As of 20:00, these are your best and worst performers based on the London trading schedule: Germany 30: 0.62% France 40: 0.57% FTSE 100: 0.40% Wall Street: 0.00% US 500: -0.01% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/afTqsdPKzv
Japanese Yen Outlook Clouded as USD Surges

Japanese Yen Outlook Clouded as USD Surges

David Rodriguez, Head of Product
ssi_usd-jpy_body_Picture_9.png, Japanese Yen Outlook Clouded as USD Surges

Retail forex speculators remain extremely net-long the US Dollar (ticker: USDOLLAR) against the Japanese Yen, underlining the strength of the broader USDJPY downtrend. We would normally take a contrarian bias to retail trading crowds, and that would imply the USDJPY stands to fall further. Yet it is difficult to reconcile a US Dollar-bearish bias in light of significant developments in other USD pairs—particularly as we believe the EURUSD stands to decline further.

Since last week total long interest has fallen 13 percent while shorts are 7 percent higher. When crowds are net-long yet are no longer buying, our SSI data warns of a potential shift in trend or sideways consolidation. Our USDJPY bias is subsequently neutral in light of sentiment shifts.

How do we interpret and trade with the SSI? Watch an FXCM Expo Presentation that explains the SSI.

--- Written by David Rodriguez, Quantitative Strategist for DailyFX.com

To receive the SSI via e-mail and other reports from author David Rodríguez, e-mail subject line “Distribution List” to drodriguez@dailyfx.com; Contact David via Twitter at http://www.twitter.com/DRodriguezFX

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