Whats going in the market?

Fed’s Kohn did what we feared – that core inflation still is too high to start cutting rates and does not see the inverted yield curve as a sign of economic weakness. The inability of EURUSD to close below 1.2980 suggests a range bound FX market.

Stocks rose on the Fed comments. Technology leading the market higher. Energy sector also taking back some of last week’s heavy losses.

Precious metals correcting higher as the USD is picking up offers in the market.Gold and silver correcting highee Bunds closing below key support. Very bearish. US10Y’s likely to follow suit.