FX Webinar: Risk-Off Resurrected On Trump Threat, Dollar Drops
FX Closing Bell is a daily webinar hosted by Tyler Yell, CMT with an intent to look at key market themes within Foreign Exchange, Commodities, and Fixed Income. We look at the current price action in these key markets alongside any news that may be making waves in the markets or could lead to a pending opportunity that I feel deserves your attention.
To get a sense for where capital is flowing, we pull on insights from futures, spreads on the yield curve, and options. Looking at how multiple markets are pricing in future activity can help us understand where pressure is building. We also touch upon the technical analysis and sentiment analysis to give you a well-rounded view of what is happening in markets that could lead to your next trade as we hope to make it a good one.
Wednesday's discussions included –
- Bid in Treasuries extended to push yields lower on Trump’s government shutdown comments that led to haven demand also seen by a bid in Gold and USD/JPY.
- Imbalance in the Copper market as LME spreads are showing healthy supply, which would argue the 18% YTD rise could be driven by something other than fundamentals.
- Encouraging data from the weekly EIA inventory report showing the eighth straight drop in US Crude Oil stockpiles and impressive US refinery demand compared to 2016.
- The important technical levels facing NZD and GBP as they continue to fall.
- Sentiment focus on NZ retail long positions that have seen a ~30% rise in net-long positions from yesterday.
If you missed this webinar and would like to know about future events, including the next scheduled FX Closing Bell webinar, you’ll find that all here.
Written by Tyler Yell, CMT, Currency Analyst
To contact Tyler, email him at email@example.com
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