Aggressive Dollar Devaluation
Here we are tracking the final fumes of an ending diagonal count. Those following will know it is a very similar setup for those tracking EURUSD with the USD sell-off in the leg showing signs of starting earlier (see attached: "MAJOR Reversal around the corner in EURUSD") ... A side note here that the EURUSD chart may need adjusting if we do not get any fills before ECB June.
On the monetary side, markets adding 5bps of easing over the next year in the Fed Funds futures curve ... currently pricing 41bps of easing through Summer 2020. Bonds have been better bid with 10Y yields reaching the 5th and final wave in the target there (see attached: "Yields (almost) ready to start building a floor").
Best of luck all those in Dollar crosses or positioning for this next wave down.
On the monetary side, markets adding 5bps of easing over the next year in the Fed Funds futures curve ... currently pricing 41bps of easing through Summer 2020. Bonds have been better bid with 10Y yields reaching the 5th and final wave in the target there (see attached: "Yields (almost) ready to start building a floor").
Best of luck all those in Dollar crosses or positioning for this next wave down.
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