Giles Coghlan LLB, Lth, MA
Financial Source
One of the helpful features of Seasonax is the ability to compare different stocks. In the run-up to the Jackson Hole Symposium, at the start of this week, stocks have been pressured on expectations that Jerome Powell will deliver a more hawkish message. If Powell does not do that and delivers a bearish message, then watch out for some USD selling, US10-year yields falling, a spike higher in gold, and some stock buying. This is where Seasonax’s instrument compare feature can come in handy.
Major Trade Risks: The major risk is that Jerome Powell signals a more hawkish approach and that will likely keep stocks pressured.
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USD/JPY retreats further from the weekly top, slides below mid-150.00s
USD/JPY struggles to build on the previous day's strong move up to the weekly top and trades with a mild negative bias during the Asian session on Thursday. Bets for a December BoJ rate hike and the overnight sharp fall in the US bond yields lend some support to the lower-yielding JPY.
Gold price lacks firm near-term direction and is stuck in a familiar range
Gold price extends its sideways consolidative price move in a familiar range, awaiting a fresh catalyst before the next leg of a directional move. Geopolitical tensions, trade war fears and the overnight decline in the US bond yields offer support to the safe-haven XAU/USD.
Ripple's XRP could see a price rebound despite retail activity decline, RLUSD launch delay
XRP traded near $2.4 on Wednesday as Ripple Labs clarified that its RLUSD stablecoin will not debut on exchanges despite a rumored launch among crypto community members. Amid a sharp decline in XRP's price, on-chain data shows the remittance-based token still has the potential to resume its rally.
Four out of G10
In most cases, the G10 central bank stories for December are starting to converge on a single outcome. Here is the state of play: Fed: My interpretation of Waller’s speech this week is that his prior probability for a December cut was around 75% before the data.
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