MT GLOBAL MARKETS Momentum & Sentiment weekly 26Jul20 recap wk30/focus wk31 thread 1/n
• ERF, Europa and the Bull
• US-China cold war
• Asset rotation
• My Precious! Gollum!
• Another 3 CBs rate cuts
• Q2 GDP, the month of delayed truth
• ERF, Europa and the Bull
• US-China cold war
• Asset rotation
• My Precious! Gollum!
• Another 3 CBs rate cuts
• Q2 GDP, the month of delayed truth
/ ICYMI, the previous tweet pic is "Europa and the bull" ( en.wikipedia.org/wiki/Europa_(c….
Anyway, the marathon debate about the recovery fund concluded with a good compromise... $EUR took out all stops and surged to near 1.17
Anyway, the marathon debate about the recovery fund concluded with a good compromise... $EUR took out all stops and surged to near 1.17
seems, everyone was long before, but still took out a lot of stops. CFTC report shows, not extreme yet.
/ as Italy has the main benefit, BTPs gained to 147 , and spread to Bunds "rallied" to 153bp
/ also interesting: Citi economic surprise index for Eurozone keeps surging
/ the other key sentiment: further US-China tension ... which created a RiskOFF sentiment 2nd half of the week , GOLD, SILVER, CHF, and JPY close to a break
/ interesting flow of funds ... not even included Thu & Fri
/ flash Manufacturing and Services PMI continued to improve...
and Hungary CB cut -15bp, South Africa -25bp and Russia as well -25bp
and Hungary CB cut -15bp, South Africa -25bp and Russia as well -25bp
/ "Inflation" $ZROZ :)
/ interesting weekly asset performance/rotation wk30
- Gold/Silver, $GDX $SLVP top
- Banks outperforming
- Tech underperforming on profit taking
- BTP vs Bunds
- EURUSD and CHFUSD new 52wk high
- Gold/Silver, $GDX $SLVP top
- Banks outperforming
- Tech underperforming on profit taking
- BTP vs Bunds
- EURUSD and CHFUSD new 52wk high
/ update on momentum/ trend / exhaustion scores
/ next week the lagging of laggards, GDP in a few key countries...
the moment of delayed truth
...and one more broken y-axis
the moment of delayed truth
...and one more broken y-axis
/ next week, German IFO expected to improve further
/ and Eurozone M3 growth close to double digit %
/ NQ / ES rotation or just a hiccup ?
/ next week FOMC, , and they won't talk the US$ nor interest rates up. Wondering if they mention more of YCC , but they don't have any kitchen sink left anyway. It's all thrown out.
/ pundits might say this week " well, GDP wasn't THAT bad, could have been WORSE"
my god
my god
/ perpetuum mobile ... CV19 and restrictions. game changer forever. not the virus, the reaction to it.
/ US jobless claims messy reporting... and it wasn't great
/ take it easy ! cheers
