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  • 26m
    Jim Earls Jim Earls
    Good article-not much attention has been given to the story about inflationary expectations being artificially elevated resulting in lowering future economic growth.
  • Squawk / 1 hour ago
    Mads Koefoed Mads Koefoed
    Head of Macro Strategy / Saxo Bank
    New home sales plummets 14.5% month-on-month to 384,000 in March in the US, far from the consensus expectation of +2.3%. Furthermore the decline in new home sales in February was revised to 4.5% from 3.3%.

    Sales declined most in the Midwest to 51,000 from 65,000, a drop of 21.5% m/m, followed by the West and South. The Northeast recorded a minor increase to 27,000 from 24,000.

    While the report surprised consensus it would not come as a shock to those watching the housing starts series, which had been signalling a drop in sales (chart 1).
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  • 2h
    Fxjo Fxjo
    I concur
  • Squawk / 2 hours ago
    John J Hardy John J Hardy
    Head of FX Strategy / Saxo Bank
    GBPUSD techs showing a bit of a momentum breakdown after the BoE minutes failed to build the hawkish case for the BoE (though they were relatively neutral - the market is simply leaning hard on sterling appreciation and needs constant input to keep the pressure higher). A bigger disappointment would be a move below the local support around 1.6775, below which recent longs have likely placed some portion of their stops. (See chart below.) The pair could be more vulnerable to downside accelerations after the most recent COT report showed net speculative sterling longs near their highest levels since 2007 as of last Tuesday and likely even longer now. Further out, a bigger breakdown awaits if 1.6700/1.6675 can't hold if/after the local support breaks.
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  • 2h
    kirand kirand
    kirand kirand
    what about USD/CAD?
    Michael O'Neill Michael O'Neill
    USDCAD is bid but I still think it is a sell around 1.1040 with a stop above 1.1060 although I am certainly leaning into the wind. ...