Daily Alert – Wednesday 9th June 2021: USD pulled down by falling bond yields

Mark NugentDaily Alert, June 2021

Daily Alert – Wednesday 9th June 2021: USD pulled down by falling bond yields

The market doldrums continue.

The only movers are the US 10-year yield which is dropping, dragging the USD with it. WTI is grinding up a tiny wee bit. The EUR is strong as per my bias, but the GBP is down as it looks like there will be a delay to full re-opening. The decision will be made next Monday with implementation, should there be any, scheduled for the 21st June. There is also the endless bickering between the UK government, who almost certainly negotiated the Northern Ireland protocol element of the Brexit deal in bad faith, and the holier-than-the-Pope EU who seem prepared to die on the cross of the single market to stop some crap sausages moving from one part of the UK to another. And we pay these clowns.

Thank goodness for the weekly trading experiment, which is progressing nicely in this, its third week. I go into detail in the member’s video.

Major risk events that remain are US CPI and the ECB’s rate and statement, both tomorrow.

There is not a lot more to say.

I’ll be back on Friday.

Members can access today’s video in the VIP Club members area HERE