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Visualisation in Excel of current market situation: Built using https://www.excelpricefeed.com  

"...an inverting yield curve and weak June manufacturing data across the globe have divided analysts on whether or not a pullback is due. DWS forecasts a “moderate cooling of economic activity”, but J

Overnight remains risk off. Indices and Oil down. Gold and Bonds up with Bonds just pulling back. Today not much on the calendar so it's all about the virus. 

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26 minutes ago, dmedin said:

What does that FX thing mean Tom 🤓

The top row A is the relative strengths of each currency, strongest on the left to weakest on the right when the snap was taken.

B is the strength difference between the pairs and C ranks them from largest at the top to smallest difference at the bottom.

So the top 4 all have a Diff of -4.4 but when spread is taken into account the the best trade was calced as Short (red) gbpusd.

A look at the chart shows that this is not new news but given that the correlation table updates every second is worth keeping an eye on.

Equally important is knowing which pairs to stay away from, those of equal strength and just going sideways.

 

image.png.ea1447f897669776bcca54592f10b1a8.png

image.thumb.png.2ff701001bfb46d7c7a96fb6a2a8f5b0.png

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