The Equity markets are all higher overnight as we await the the results of the FOMC meeting which will be announced at 6.15 pm. The Fed are expected to bide their time as they they assess the recent strong Economic Data. Before the FOMC we have Retail Sales for February which are expected to be +1.1 %
S&P 500
I am still long the June Contract from yesterday and will raise my stop to a break-even of 1364. I will take profit on any spike to 1380 ahead of the FOMC announcement.
USD/JPY
The Bank of Japan is probably feeling very good since its surprise easing last month. The JPY has weakened to a 11 month low and the Nikkei is up 19 percent. A break and close above 83 will be very bullish and will target 90 over the next few weeks.
Bund
The Bund hit my sell level yesterday of 13890/13920 with a 13910 high and I have taken profits here this morning at 13860. I want to be square ahead of the FOMC and will reset shorts on any move back to 13920.
Dax
The Dax has rallied strongly from the 6850 support. I have cut half of my position at 6975 this morning and will raise my stop to 6920 on the balance looking for a test of 7050.
Crude Oil
Crude had another wild day as we traded down to 105.40 and then back to 107.20. I went long at 105.60 and I am now flat. The market still continues to trade the 105.50/108 range
Recent Comments