Is Crypto Becoming dotcom Bubble 2.0?

[Sig]

I don't think they will anytime soon. BOC just announced they won't tweak much, continue with their accommodative policy which puts a bit of pressure on CAD I guess. Thursdays inflation reading in the US will probably also be supportive of longs in the pair but we need to see whether the uptick in inflation is temporary or not.

Take a look at what the Fed is doing to reel in QE as well over the past few weeks, it's also interesting and potentially relevant to the thought process although it get's less top line press.

 

[DiceAreCast]

For sure, Fed balance sheet impact will be equally important. I was just suggesting to the previous poster that impact on currencies is not just driven by the actual decisions on a macro level but by expectations of timing and impact way beforehand.

Take a look at what the Fed is doing to reel in QE as well over the past few weeks, it's also interesting and potentially relevant to the thought process although it get's less top line press.

 

[DiceAreCast]

We might get to 1.24/1.25 levels faster than I thought...

"FED'S POWELL: WE WILL BE WILLING TO MAKE POLICY CHANGES IF INFLATION EXPECTATIONS ROSE TOO HIGH"

"FED'S POWELL: MANY PARTICIPANTS BELIEVE THAT THE CONDITIONS FOR LIFTOFF WILL BE MET EARLIER THAN ANTICIPATED."

@Master Pu, I take another stab at long USDCAD with more conviction. US Dollar basket is ticking up and CAD basket finally showing weakness, I discussed the fundamentals previously and they favor a USDCAD long imo. The pair almost touched 1.20 but found buyers (even if it dipped below short term, I believe it would have also found buyers below 1.20).

 

[DiceAreCast]

@Master Pu, I just took profit at 1.2458. That worked out really well. Lost 60 pips earlier on 1/3 of target size as indicated in an earlier post and then went full in June 8

@Master Pu, I take another stab at long USDCAD with more conviction. US Dollar basket is ticking up and CAD basket finally showing weakness, I discussed the fundamentals previously and they favor a USDCAD long imo. The pair almost touched 1.20 but found buyers (even if it dipped below short term, I believe it would have also found buyers below 1.20).