From the Desk of Ian Culley @IanCulley
Commercial hedgers are taking an interest in the Canadian dollar.
The CFTC has finally updated its records after the recent data breach.
And, as expected, we have some extreme positioning on our hands…
Expert technical analysis of financial markets by JC Parets
by Ian Culley
From the Desk of Ian Culley @IanCulley
Commercial hedgers are taking an interest in the Canadian dollar.
The CFTC has finally updated its records after the recent data breach.
And, as expected, we have some extreme positioning on our hands…
by JC
You’re seeing the permabears pointing to the Equally-weighted S&P500 falling down towards new 52-week lows relative to the Market-cap weighted version.
You can see what’s happening here: [Read more…]
by Ian Culley
From the Desk of Ian Culley @IanCulley
Fed Chair Jerome Powell spoke this afternoon after the central bank announced a 25-basis-point rate hike.
The fed funds futures were all over the place, from pricing in a 25-basis-point increase to a double-hike. They settled in around a single hike, with a slim chance of a pause.
Exhausting!
It’s clear we can expect increased volatility going forward.
But, instead of guessing the Fed’s next step or parsing Powell’s words, I’ll rather sit back, wait, and prepare to trade a decisive breakout.
When I think about the latter stages of the hiking cycle or a potential pause, my mind immediately turns to one currency in particular…
by JC
This is the video recording of the March 2023 Mid-month Conference Call.
From the Desk of Ian Culley @IanCulley
Fear runs rampant across financial markets as the US Dollar Index $DXY prints fresh one-month lows.
Wait… what?
I thought the USD was a safe haven.
Perhaps it is. But it appears the gig is up for King Dollar after being the only game in town for almost a year.
So what now, buy stocks?
Sounds good to me.
And I think we can start buying other global currencies too…
by Ian Culley
It’s the weekly currency edition of What the FICC?
Dollar and rates were big themes last year – rising in tandem – and continue to be as we head into March.
It shouldn’t come as a surprise as the next chart reveals the crux of the story…
Check it out!
by Ian Culley
From the Desk of Ian Culley @IanCulley
What year is it?
Is it 2023 or 2022? Because it’s starting to feel like last year all over again…
No, Will Smith hasn’t slapped anyone (that I’m aware of). And I’m confident Bennifer 2.0 is going strong (solely based on Superbowl commercials).
But that’s not my concern. Here’s what does have my attention: the dollar and rates.
These were big themes last year – rising in tandem – and continue to be as we head into March.
It shouldn’t come as a surprise as the next chart reveals the crux of the story…
by JC
This is the video recording of our March 6th Monthly Charts Live Strategy Session