Welcome to the Mid-Week Shuffle.

The board is starting to align for something to happen.

Bund has hit an important target level @ 165.30-50 which has been pivotal

to multi-hundred point moves over the past few quarters.

TY/BD…Long U.S. 10’s/short Bund spread has kept the Euro on its heals as the interest rate differential has widened. Lower German rates vs. a steady U.S. 10.

 

With the Bund having led the spread and now hitting its upside target on a Wednesday can the board flip?

Euro is trading unchanged on the year, with the weekly EUR/AUD trading @ low Rsi’s

which means it can bounce again.

EUR/JPY is at its 50 Week MA.

GBP/JPY..is putting in a flag formation on a weekly chart. A close over 142.40 is needed for an upside breakout.

There are enough markets beginning to align that can make for a volatile afternoon.

Spu’s...2351 will be the key hold level post FOMC.