nymarketdxy
It was a rather pedestrian FOMC Statement day on Wednesday. There is GDP data incoming, and the widely Fed-followed Core PCE Price Index data comes out on Friday. What can we take away from the FOMC Statement and press conference? Q2 2021 hedge fund letters, conferences and more Rates unchanged. No rush to raise interest rates. Inflation should persist. No surprises here. However, there was some notable price action in the US Dollar Index during Wednesday’s session. The US Dollar Index initially rose on the FOMC statement at 2:00 PM. During the press conference, the USD fell as Fed Chair Jerom...
ValueWalk
Monday gave us a fast snapback rally in the major US indices, with the S&P 500 adding 1.40% and erasing Friday’s losses. What’s on tap for the remainder of this week? Q1 2021 hedge fund letters, conferences and more Good morning folks. Today we hear from Fed Chair Jerome Powell again at 2:00 PM, as he provides testimony on the Fed’s lending programs and policies. I am sure the market will be hanging on every word . However, what else could be said at this moment to either spook or encourage market participants? On Friday, the Fed’s Bullard talked about Q4 2022 for an initial hike and said that...
ValueWalk
The precious metals seem to be ready for vacation deep dives, but all signs indicate that the USDX will stay on the side of the pool, perfectly dry. Q1 2021 hedge fund letters, conferences and more The USD Index (USDX)With the USD Index washing away its sins in recent weeks, the greenback has recorded five daily rallies of more than 0.40% since May 26. And with the up days growing stronger and the down days growing weaker, the change in the trend will be clear to more and more traders, which eventually would likely cause a shift in the sentiment. Case in point: while gold, silver and mining st...
ValueWalk
The FED has recently been tricked with its own money. Could the central bank’s scary reverse repos become a treat for the USDX? Q1 2021 hedge fund letters, conferences and more The USD Index (USDX)With the ghosts of 2015 attempting to scare the U.S. Federal Reserve (FED) into tapering its asset purchases, the latest reverse repo nightmare could be gold, silver and mining stocks version of the boogeyman. Case in point: with the liquidity fright helping the USD Index sleep better at night, the greenback should benefit from the FED’s latest house of horrors: And with the central bank’s daily reve...
ValueWalk
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