The S&P 500 closed the week at 7,473 — roughly where it started, roughly where it ended last week, and roughly where it’s spent the entire month. June has become a drawn-out stalemate between dip-buyers and profit-takers, and both sides are refusing to blink. The bull case, stated fairly Every test of 7,240–7,350 has been […]
The euro’s slide is no longer a drift. It’s a trend. EUR/USD ended the week near 1.1459, down from 1.1635 at the start of June — a decline of roughly 1.8% in two and a half weeks, with the pair slicing through 1.15 like it wasn’t even there. On Wednesday alone, the pair fell from […]
Here’s a market oddity worth unpacking: this week, both gold (bouncing around 4,381) and the euro (at 1.146) fell against the dollar simultaneously — but gold’s bounce off the lows came while the dollar was still firm. Occasionally, everything falls together. What’s going on? The liquidation explanation When leveraged macro funds unwind crowded trades — […]
The euro’s spring decline has crossed a psychological threshold. EUR/USD traded down to 1.146 on Wednesday, its lowest level in over a year, completing a 300-pip slide from the mid-May highs. The June breakdown through 1.15 has been swift, orderly, and — most telling of all — largely ignored by the financial press, which remains […]
The carry trade is feeding on itself. USD/JPY closed Monday at 161.43, its highest level of 2026, after touching 161.91 intraday. The pair has now gained roughly 500 pips since the start of June, and the character of the move has changed. April’s rally was cautious and headline-driven. This one is mechanical — systematic funds […]