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Apr 06 - 10:55 PM

Commodities - USD-Soft As UST Yields, Commodities Price Recession

By Andrew Spencer  —  Apr 06 - 08:35 PM

• Off 0.1% after closing up 0.9% - risk sentiment slumps further in early Asia

• E-mini S&P -3.9%, Nasdaq e-mini -4.9%, Nikkei -8%, WTI -3.5% US copper -5.8%

• Safe-haven Treasury yields slumped 2yr -18bp 3.489%, 10yr -8bp 3.910%

• Trump, asked about markets, says sometimes you have to 'take medicine'

• Friday Fed's Powell - larger tariffs likely to boost inflation, slow growth

• Charts - 5, 10, & 21-day moving averages fall with momentum studies

• 21-day Bollinger bands expand - the daily signals retain a bearish setup

• Last week's 101.26 low, then the 100.15 September low are first supports

• Thursday's 103.38 top then the 104.71 late March high are initial resistance
Andy


(Andrew Spencer is a Reuters market analyst. The views expressed are his own.)

Source:
London Stock Exchange Group | Thomson Reuters

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