The Pres. Trump Truth Social post regarding good and constructive talks with Iranian officials reversed oil price with the price moving from a high of $101 to a of $84, saw US yields move lower with the 10 year moving from 4.44% to 4.31%, and saw the US stocks move from being down around -0.80% in the S&P to up 2.5% in pre-market trading.
The USD moved sharply lower as well with the dollar index moving from 100.148 to 99.128 ( 1% decline).
Since than there has been a rotation the other way again as traders ponder the truthfulness of the Truth Social post. Is Trump TACOing (just chickening out as stocks and oil hurt him politically), or TrOLl-ing (TRump Only Lies because stocks and oil are moving lower as US citizens awake from the weekend and face higher oil and lower stock and bond prices). It is hard to say.
IN the video above, I take a look the EURUSD, USDJPY and GBPUSD from a technical perspective and outline the key levels in play given the volatile moves first higher in the USD, then lower and now back higher.
