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BoE Chief Econimist (Hawk) is to Step Down From BoE After June Meeting

Real Time News
  • $EURUSD broke as expected, but the direction of that break certainly doesn't align to the implied rate forecasts from Fed Funds futures (through Dec 2022) https://t.co/4ecrIvsmOa
  • AUD/USD remains within the confines of a head-and-shoulders formation as it retains the opening range for April. Get your $AUDUSD market update from @DavidJSong here:https://t.co/NB9AkFh9oZ https://t.co/mgcNE9Bhev
  • Both the March US headline CPI (2.64%) and 5-year breakeven inflation rate (2.52%) are well above the Fed's target rate for the medium-term https://t.co/h1hZYFj55c
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 92.94%, while traders in Germany 30 are at opposite extremes with 75.92%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/YYVWK1VfnY
  • Commodities Update: As of 13:00, these are your best and worst performers based on the London trading schedule: Silver: 2.28% Oil - US Crude: 0.88% Gold: 0.80% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/IGiOgYkbD6
  • White House: J&J vaccine pause will not have a significant impact on US vaccination plans.
  • $EURUSD at session highs having broken through last week's peak - Resistance ahead 1.1950 and 1.1990 https://t.co/GZt61d8bez
  • Indices Update: As of 13:00, these are your best and worst performers based on the London trading schedule: France 40: 0.11% Germany 30: 0.09% US 500: -0.04% FTSE 100: -0.20% Wall Street: -0.28% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/LWPqo8wqu6
  • J&J to proactively delay rollout of vaccine in Europe. $EUR
  • BoE Chief Economist Andrew Haldane To Step Down From The MPC After The June Meeting $GBP
Trading Video: Dollar, S&P 500 Breakouts and Trends on Hold Before FOMC, GDP

Trading Video: Dollar, S&P 500 Breakouts and Trends on Hold Before FOMC, GDP

John Kicklighter, Chief Strategist

Talking Points:

• This week opened to consolidation with EURUSD carving out its second smallest range in the Euro's history

• Heading into heavy event risk - US GDP and FOMC among the top billings - investors will be cautious

• Trades that fall outside the dollar's influence or 'risk' designation are better opportunities

Market conditions change, and our strategy should reflect those changes. We have coded the DailyFX-Plus strategies for Breakout, Range and Momentum to adapt to these market shifts.

Traders can see and hear heavy event risk just over the horizon. With the threat of event risk that can materially alter volatility levels or underlying trends, it comes as no surprise that markets are retrenching. Through Monday's session, the USDollar's march higher was capped, the S&P 500 pulled back before committing to an intermediate bearish reversal and EURUSD carved out the second smallest trading range since the Euro began trading. In an already sluggish market, the build up to such a high profile collection of event risk is palpable. Opportunities - short, medium and long-term - are likely to arise from the aftermath of the events. Yet, in the lead-in, there are still trade options. Finding those pairs without a 'risk' connection or dependency on US rate forecasts can still develop at their own pace. We discuss this calm before the storm in today's Trading Video.

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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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