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Dow Jones - Risk-Off Returning, Shorts Favoured!Risk appetite is once again sour after Trump tweeted and a Washington Post interview fuelled concerns over political pressure on the Fed and trade woes anew. The US President first tweeted that the US is put at a ‘big disadvantage’ as US rates are kept too high while others are devaluing their currencies, explicitly mentioning the EUR and CNY. Separately, Trump said that he is currently ‘holding up’ the deal between the US and China on trade, accusing China of reneging on previously agreed terms. We believe there is more pain in store for equities today, and would sell the Dow here near resistance.
CBOT_MINI:YM1!Short
by Sam_Eder
GBPCAD - Looking for Shorts After GDP Data!UK leadership hopefuls launch campaigns to take control of Brexit today. Initial news due around 17.00 CET. Boris Johnson is the main candidate and he is pro-Brexit. GBP is being pressured because of this, since no EU-Government wants to see a no-deal Brexit. At the same time, Canadian data was extremely strong and we like the odds of further weakness in GBPCAD today. UK GDP is due in around 1H, and we also suspect it will be worse. Sell on worse data, or after a pullback to resistance.
Short
by Sam_Eder
EURNZD - Sell on Intraday Pullbacks!The Euro has held up recently due to the US Dollar weakness. However, ECB Villeroy said Europe was facing great economic uncertainties, with trade tension the biggest threat to growth. On the data front, Eurozone CPI was softer than expected. At the same time, Kiwi did receive a bit of support after the RBNZ Assistant Governor said rates would remain 'broadly' around current levels. Tomorrow's ECB meeting is forecast to be on the dovish side. We expect more weakness in EurNzd going forward. Prefer intraday pullbacks towards 0.7000 to get aboard.
Short
by Sam_Eder
BitCoin - BSV at All Time Highs! Get Long On Pullbacks!We are initiating coverage of the "real" Bitcoin after Craig Wright (craigwright.net) claimed to be Satoshi Nakamoto. Coverage of Crypto will always be more technical in nature than in FX or other assets as it is a purely speculative vehicle. Yesterday's Continuation breakout pushed prices to all-time highs. Profit taking is to be expected now. Prefer pullbacks into shor-term support to get long again ahead of a new breakout!
BLong
by Sam_Eder