CTA Trend Following model shows Cocoa futures were stopped out and JPY/USD flipping between long and neutral in different models.
CTA Trend Following model shows managers are long grains and stocks. Model now long Japanese Yen futures.
Gold has traded above $1400 for the first time since September 2013 and the metal is breaking out above its 5-year ceiling.
CTA Trend Followers on right side of equities indicies, metals and G10 fixed income.
This Wednesday all eyes are on the FOMC meeting with statement release and press conference. Markets anticipate a dovish stance on both.
I usually wouldn’t pay attention to stuff like this. I take it as negotiating bluster. But the world is changing and suddenly we have a time window change of direction where precious metals are suddenly strong and the Greenback can’t seem to right the ship. Sometimes big things develop out of little beginnings.
Apart from the crypto carnage today and news of the Dow’s fastest 1000-point rally in history, there hasn’t been an awful lot happening in other markets today, with the major FX pairs and gold being fairly stable.
China may slow down its U.S. debt buying. Will gold rally or plunge, then?
Gold: USD 1,321.65, GBP 976.96 & EUR 1,103.31 per ounce; Silver: USD 17.13, GBP 12.64 & EUR 14.27 per ounce
A daily summary of high-profile members of several complexes...