TRACKRECORD DAILY
Published in

TRACKRECORD DAILY

Opportunities can be found when there is clear divergence

JPY weakness is likely to be a permanent feature for a long time

TRADING TIP

Avoid Tunnel Vision

As a trader, you should not concentrate solely on the market that you are trading but get a general awareness of the broader market. Like how no man is an island, markets are also not siloed.

WEEK AHEAD

Bank of England Governor Bailey speaks tonight, further dovish comments are likely following the dovish statement from 2 weeks ago.

TRADING PLAN

1. Currencies:
CNH
— Keep short USD against CNH. USDCNH is rising as USD is strengthening due to higher US bond yields again. However, Resistance at 6.40–41 is likely to hold for now. Stay short.

WHAT HAPPENED YESTERDAY

Market Movement As of New York Close 25 Mar 2022 (26 Mar 2022 for Cryptos)
  • The strength in the equity market was sapped on Friday as rates increased. The S&P 500 was up +0.51% (intraday high: +0.51%), Dow Jones rose by +0.41% (intraday high: +0.67%) while the Nasdaq inched lower by -0.08% (intraday high: +0.27%).
  • The crypto market had a stellar performance over the weekend. Bitcoin was up 5.2%, nearing crossing the 47,000 level and just 1.9% below the open price of 47,740 for the year. Ether traded higher as well, increasing +4.8% to 3,295. The strength continued on in the Asian trading opening hours with BTC breaking above 47,000 and ETH 3,320.

HEADLINES & MARKET IMPACT

India leans toward continued import of Russian coking coal

Notable Snippet: India plans to double imports of Russian coking coal, a key ingredient in making steel, the minister said. He said the country had imported 4.5 million tonnes but did not indicate the period he was referring to.

White House Wants Public Comments on Crypto’s Energy Use and Environmental Impact

Notable Snippet: In his executive order on crypto issued earlier this month, President Joe Biden tasked the White House’s Office of Science and Technology Policy (OSTP) with preparing a report on the “potential for digital assets to impede or advance efforts to tackle climate change and the transition to a clean and reliable electricity grid,” according to a document published in the Federal Register on Friday.

EU and U.S. agree to new data-sharing pact, offering some respite for Big Tech

Notable Snippet: The European Union and the U.S. on Friday announced they had agreed “in principle” to a new framework for cross-border data transfers, providing some much-needed relief for tech giants like Meta and Google.

SENTIMENT

FX

STOCK INDICES

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