Lots and lots of Fed speak
Coach Mark here.
After last week’s massive amount of news and data piling into the market every day last week, we all get a little breather. Last week was full of earnings, economic, and monetary news and it was fun doing the podcast with my brother Matt breaking down Janet Yellen, Jay Powell, Mega Cap Earnings, oil’s price action, and the unemployment report from last week. It was a busy week and I believe we did a great job analyzing the week in the podcast episode which can be listened to here.
While last week did not stop, this week is a little more forgiving. There are plenty of earnings to report as we have the last full week of earnings upon us but none of the huge names that you must circle the calendar for. There are a few economic reports this week but none of the unemployment or inflationary reports that are the “red” type events that shift market narratives. A lighter week indeed.
What we do have is a ton of Fed speakers this week. They all seem to have something to say in the coming days. After the red-hot unemployment report on Friday the dollar and yields have been climbing and the tone and messaging of the speakers will undoubtedly impact these charts. This feels like a dollar and yields week and the correlations between these two charts and other risk assets has been very strong over the last six months. They are important charts and we will be breaking them down and their significance on the Halftime Report each day.
While it might be a lighter week, we will still be going full throttle at Tackle Trading! Education, analysis, and supporting our community each step of the way.
Have a wonderful start to your week and email us at team@tackletrading.com if you need anything at all.
Chart of the Day: U.S. Dollar ($DXY)
Keep an eye out on the dollar this week. It has the impact of putting pressure on cyclical commodities, precious metals, and risk assets in general.
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