Euro reversed off technical uptrend resistance with price threatening a larger June correction. The levels that matter on the EUR/USD weekly chart heading into FOMC.
Bitcoin (BTC/USD) put in a fresh higher-high this morning as a couple of high-profile market participants added some supportive commentary on the matter.
Consumer inflation expectations in the U.S. rise to 4% in May from 3.4% in April, reaching its highest level since 2013, but fail to spur volatility in the dollar.
USD /CAD may attempt to test the May high (1.2352) if the Federal Open Market Committee (FOMC) shows a greater willingness to switch gears later this year.
Traders rotated back into the Nasdaq Composite as it outperformed the Dow Jones. Inflation expectations and Treasury yields are falling ahead of the highly-anticipated Fed. Highlights next week inc...
Traders are further net-long than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger EUR/USD-bearish contrarian trading bias.