Latest from Goldmans...from Smart Jet

Latest from Goldmans, key takeaways are that they expect a hawkish SNB this week, and a relative dovish BoE, thus they stay short GBPCHF, while also they expect broad USD strength and continued pressure on risk assets, thus they stay short NZDCAD, we agree with both of these biases and Sean's current trades are indeed on a similar note, we keep an eye also on potential short term opportunities for Wednesday's FOMC, and Thursday's SNB and BoE rate decisions

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Morning traders, RBA hiked 25bps overnight which was a move not priced in, and that's an interesting development, mainly because it offers us an insight into what central banks might be thinking, you know, if the RBA is overextending on its tightening then other central banks might find themselves in a similar situation, sure the context around the RBA and FED is different but still, the RBA just opened the door for the possibility of central banks doing MORE than what's currently expected With that said, this is not something that we can take action on short term but it whispers that it is time to be careful with risk assets again, more tightening not just from the FED but from other central banks too will put more pressure on the economy globally which will weigh on risk, so in this context I continue to like the Dollar

Smart Jet

Powell still speaking but so far not much forward guidance is being given, simply the FED is open to hiking further but also open to a pause depending on how the data develops until the next rate decision, so without much said from Powell the Dollar is rightfully basically flat after a bit of volatility on both sides, not a lot to do with it, will see where markets are at tomorrow at the London open but for now, no short term bias and no short term fundamental direction from this flat FOMC

Smart Jet