Monica Kingsley
Monicakingsley
S&P 500 and many intraday whipsaws for bulls and bears – over 800K job market data downward revision was celebrated, Treasury auction barely noticed, and Fed minutes turning out a pump and dump. I choose the intraday breakdown rejection (no 5,615 and below) as the most technically important move in the run up to PMI today and Jackson Hole tomorrow. Intermarket, it‘s about the bond market and the constant watch over 75bp rate cut odds by Nov.
Here is what yesterday‘s mildly positive intraday total in our channel resulted in the VIX, volatility which is sure to pick up tomorrow.
All essays, research and information represent analyses and opinions of Monica Kingsley that are based on available and latest data. Despite careful research and best efforts, it may prove wrong and be subject to change with or without notice. Monica Kingsley does not guarantee the accuracy or thoroughness of the data or information reported. Her content serves educational purposes and should not be relied upon as advice or construed as providing recommendations of any kind. Futures, stocks and options are financial instruments not suitable for every investor. Please be advised that you invest at your own risk. Monica Kingsley is not a Registered Securities Advisor. By reading her writings, you agree that she will not be held responsible or liable for any decisions you make. Investing, trading and speculating in financial markets may involve high risk of loss. Monica Kingsley may have a short or long position in any securities, including those mentioned in her writings, and may make additional purchases and/or sales of those securities without notice.
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EUR/USD stays under modest bearish pressure and declines toward 1.1100 in the second half of the day on Thursday. The US Dollar preserves its recovery momentum following the mixed PMI data, making it difficult for the pair to regain its traction.
GBP/USD retreats to 1.3100 on USD rebound
GBP/USD pulls away from the 13-month high it set at 1.3130 earlier in the day and trades near 1.3100. The US Dollar gathers strength against its rivals after the PMI figures showed that the private sector continued to grow at a healthy pace in August.
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Gold extends its correction and trades below $2,480 in the American session Thursday. The benchmark 10-year US Treasury bond yield clings to daily gains after August PMI data from the US, forcing XAU/USD to stay on the back foot.
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US S&P Global PMIs seen broadly unchanged in August, signaling moderate economic expansion
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