Right, move up in discount rate has already been discounted it would seem. So markets always looking for more, the next six months. I'm seeing slight anecdotal evidence of US economy slacking. Consumer may be tapped out. Trucking got really soft the past month after a strong summer. That may be seasonal. Watching housing for signs of slowing because it drives so much of the economy. But I've learned the hard way that things can feel bad but the markets can still go up. That's equities, but there is a spillover. Ten year note seems to have hit a wall at around 2.40. If that backs down, it may take the pressure off of the mortgage market. If not, there's almost certainly going to be some pain. Lastly, the US oil business should pick up here, and that has lots of spillover into trucking, pipe, machinery, Light trucks, manufactured housing etc.
Tape is just back and forth, back and forth. Really need to just wait for the breakout, then the retest. Too easy to get chopped up in these ranges chasing what looks like momentum, only to see it die.
Beautiful setup in GBP last nite. Thanks for the heads up. I wanted to just frame that picture. I bet all I could on it, but GBP has really high margin, like three times Aussie. Just put it on and went to sleep.
In weekly term, the pound will eventually sink further to 1.27~28 level . But imho, during Asian session the pound will recover. Better be careful
They may make better move when Tokyo opens. I am considering buying NZD next week. It looks quite underpriced atm.