Few traders are more in-tune with the news than Adam Button. The co-owner and managing director of ForexLive.com is one of the most-followed sources of live commentary on economic news. Formerly a financial journalist, he was consistently amazed at how often market watchers missed headlines. Mr. Button is also a currency analyst at Intermarket Strategy and was the chief currency strategist at XForex.
Little has changed in the underlying economic fundamentals this week but a potential unwinding is underway in indices, especially tech/Nasdaq, says Adam Button of ForexLive.com.
Before we speak about the Fed's new governor, let's discuss metals. The latest spike in yields is triggering fresh selling in metals, says Adam Button of ForexLive.com.
As the US dollar index (DXY) reaches its 200-DMA for the first time since May of last year and EURUSD breaks below its own 200-DMA, traders ought to watch these key levels for a possible breakout(down), says Adam Button of ForexLive.com.
Indices broaden their losses as bond yields ask harder questions, with NASDAQ tech sectors feeling the pinch from rising borrowing costs (especially those that finance buybacks), mainly as the index is devoid of financials, says Adam Button of ForexLive.com.