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A traders' week ahead playbook - commodities get close attention
The USD has eased back following US 2yr Treasury yields, which have pulled back from 3.45% to 3.06%, and we see a pennant consolidation pattern in the USDX daily that needs to play out and may impact sentiment in broad markets when it does. Certainly, the mood in equities has lifted but remains unconvinced and we’ve seen both the US500 and NAS100 fill and break above their respective 10 June gap – will month-end flows continue to support, with further fund rebalancing, trader short-covering and relief buying? Clearly, sentiment was so shot to pieces and positioning so light into mid-June that (with hindsight) ... (full story)