Intraday FX Heatmap: Carry On

Today's FX action is pretty simple: EUR poundage as the european currency is doing hard to prevent the 1.32 stops. On the funding side, EURJPY continues to provide the fumes needed to gun the market to new highs. The dollar continues being the conduit. Without the carry, the money to ramp markets higher. However, with the just completed T-Bill auction, look for PDs to have another $50 billion in cash from repoes, and blast market higher. After all Europe is about to close, and it is a Monday (19 out of 20 positive closes coming).

EUR Intraday:

USD Intraday:

JPY Intraday:

Comments

[DavidC]

"After all Europe is about to close, and it is a Monday (19 out of 20 positive closes coming)."

Nah, Tyler, that's exactly what they'll be thinking that we expect, so they'll drive the market down.

Only, knowing that we'll be thinking that we'll be expecting the market to go down, they'll drive it up.

Only, knowing that we'll be expecting the market to go up as a result of expecting it to go down as a result of expecting it to go up...

DavidC

[Cursive]

OK, maybe there is no conspiracy, but the market jumped after the T-bill auction closed.

[DavidC]

Whoops, sorry, missed those <msacras></msacras> tags again...

DavidC