Treasury Yields Just Flash-Crashed
However as 10Y Yields approached the Maginot Line of 3.00% today, the bond buying began and then accelerated and then turned into a mini-flash-crash, plunging yields 11bps Read More @ https://www.zerohedge.com/news/2018-06-07/treasury-yields-just-flash-crashed
China is working to change global commodities trading — to its own benefit
- In the last few months, Chinese exchanges have opened up some commodity futures for international traders.
- China, the world’s largest consumer of many commodities, is bidding to be the price-maker, not the price-taker for those products. Read More @ https://www.cnbc.com/2018/06/06/china-is-working-to-change-global-commodities-trading.html
Bank of England interest rate setter hints at rise in August
Economy may emerge from ‘soft patch’ as wage pressures rise, says deputy governor; The chances of an August rise in interest rates have increased after one of the most cautious policy setters at the Bank of England signalled support for higher borrowing costs. Sir Dave Ramsden, one of Threadneedle Street’s deputy governors, said the economy seemed to be coming out of its early 2018 soft patch at a time when wage pressures were mounting. Ramsden, one of only two members of the Bank’s monetary policy committee to vote against last November’s quarter-point increase in official interest rates to 0.5% said that in the absence of further tightening of policy, inflation would breach the government’s 2% target. Read More @ https://www.theguardian.com/business/2018/jun/07/bank-of-england-interest-rate-setter-hints-at-rise-in-august
WHAT IS THE USD INDEX SAYING?
USD just completed its move of bullish flag – today we should see some drama for the USD – we are expecting some good volatility for USD with the G7 Meeting in action. We move from SELL USD to BUY today.
TODAYS NEWS THAT MIGHT AFFECT YOUR TECHNICAL TRADES.
- 7.50am – JAPANwill release its GDP and is expected to be better then last week; time to BUY JPY as BOJ prepares to wind down the lose monetary soon.
- Tentative – Be cautious as China will release its Trade Balance today expected to be good – AUD & NZD should be good for another move north after yesterday pullback.
- 1.00pm – Japan will release their economy watchers sentiment and apparently expected to be get ratings.
- 2.00pm – German will release their trade balance and is expected to be good – we maintain buy for EURO.
- 4.30pm – UK will release their Inflation exception and is expected to be good for a good volatility today. We maintain BUY for GBP.
- 8.15 – 8.30pm – Canada will give some good volatility with Housing and employment news both of which is expected to be good and also yesterday Governor Poloz was hawkish on his statement – we will watch the NAFTA closely before engaging CAD,
- 10.00pm – US will release their Final wholesale Inventories – It’s a signal of future business spending because companies are more likely to purchase goods once they have depleted inventories; – expected to be good.
Be cautious before the weekend as there will G7 meeting and teh market will lead to any direction. Close all position before the end of the day and always be aware of good money management at all times.
High Risk Investment Warning:
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