Joe Perry FOREX.com

Market Analyst Joe Perry for @FOREXcom

Views are my own and not those of
Content is not advice.
Losses can exceed your deposits.

[John Kicklighter @JohnKicklighter]

Micron is now up nearly 15% after hours which has in turn dragged up the QQQ 1.8%.

Bulls hammering the drums deep from the Mines of Moria (aka its modest retracement)?

[John Kicklighter @JohnKicklighter]

The $DXY Dollar Index has hit a 13-month high.

Looks like a clear and clean break of a long-term, inverse head-and-shoulders pattern.

The neckline break has also cleared the 38.2% Fib of the Jan '25 - Jan '26 bear wave and the 500-day SMA:

[John Kicklighter @JohnKicklighter]

New 'key initiative'.

Task force in each of 5 areas:
- Fed communications
- balance sheet
- use and reliance on existing data
- productivity in job
- inflation frameworks

[John Kicklighter @JohnKicklighter]

Warsh says changing leadership is a good time to reaffirm objective and review practices.

Mentioned the reduced statement.

Said forward guidance wasn't appropriate at this juncture.

Encouraged SEP to go forward, but didn't participate (for now).

[John Kicklighter @JohnKicklighter]

https://t.co/2urFADsQbq

[Michael Boutros @MBForex]

Updated SEP. .

Growth reduced to 2.2% from 2.4%

Unemployment ticks lower to 4.3%

*PCE raised to 3.6%R from 2.7%
Core PCE up to 3.3% from 2.7%

Average Funds Rate 3.8% from 3.4%

[John Kicklighter @JohnKicklighter]

Chairman Warsh has some explaining to do...

These are aggressive upgrades to the rate forecasts...

[Michael Boutros @MBForex]

Canadian Dollar Short-term Outlook: USD/CAD Overbought Rally Faces Breakout Resistance
https://t.co/70n8jUeQfU

#USDCAD Daily & 240min Charts

[John Kicklighter @JohnKicklighter]

Despite the BOJ's rate hike and warning of the potential for more tightening ahead, the Yen hasn't gained material traction.

Risk aversion a possible catalyst, but fading with US-Iran stabilizing. $USDJPY at ~40-year highs and 20-day ATR at 40-year lows.

Intervention coming?

[John Kicklighter @JohnKicklighter]

Prediction markets for assessing the timeline for traffic in the Strait of Hormuz returning to normal have reversed course sharply from Thursday's low.

Still, only a 59% chance of normal being reached by August 1st

[John Kicklighter @JohnKicklighter]

See, that 'pretty much' language...

This is where having a President that is succinct and not a fan of media attention can be more beneficial

[John Kicklighter @JohnKicklighter]

US oil down -4% in in response to Trump cancelling evening strikes and insinuating a deal is at hand. Sharpest hourly drop since May 24th weekend gap.

Markets will - reasonably - maintain a degree of skepticism no doubt

[Michael Boutros @MBForex]

#Trump on Iran. . .

- Discussions have reached "highest level of Iranian leadership"

- Cancelled scheduled strikes

- Discussions & final points approved

- Blockade will remain until "Transaction finalized"

[Matt Weller CFA, CMT @MWellerFX]

🌮 on the day of the 🇲🇽 game?

[Fawad Razaqzada @Trader_F_R]

#GBPUSD: US CPI in focus with dollar eying more gains with oil rebounding too

Everything you need to know 👉 https://t.co/rVgEHZivt8

[Matt Weller CFA, CMT @MWellerFX]

📈📉DAILY MARKET VIDEO📈📉

🇮🇷 Trump says Iran deal imminent...for the 37th time!

📈 US CPI expected to spike to 3+ year highs at 4.2% tomorrow

🤔 $EURUSD bounces, but bias remains lower beneath 1.16 - see the next levels to watch! 👇

[Matt Weller CFA, CMT @MWellerFX]

Blockade "could be" lifted 3 months from now 🤔

[Matt Weller CFA, CMT @MWellerFX]

📈📉DAILY MARKET VIDEO📈📉

🇮🇷 New week, same lack of progress on US-Iran MoU - traders grow increasingly nervous

🤔 Busy week for economic data, highlighted by EZ CPI tomorrow & NFP on Friday

🇨🇳 $USDCNH hits a 3-year low - see the next levels to watch! 👇

[Michael Boutros @MBForex]

Going Live in Five! 👇

[Fawad Razaqzada @Trader_F_R]

#EURUSD: Currency Pair of the Week

More 👉 https://t.co/CrN33Sh0l1