0:07 Good morning. Welcome to Morning Outlook. This is Kim speaking on Thursday the 5th of June. So uh news-wise today then let's look at that first and we've got the ECB meeting uh at I think 1:15. ECB meeting is happening already. Um but we'll have the uh comments coming out of that main financing rate will be the uh key figure expected to be another 0.25 another quarter of a percent uh reduction there taking it down to two and a two two.15 cuz they went awkwardly at one stage. Um we've then got the EC press conference at 145. This really messes things up for the Euro from my perspective. I just don't want to be I
0:52 don't know what they're going to come out and say and do or whatever else and it's a great unknown. So, it knocks most European currencies on the head. Even if it didn't um if you look at what they're doing and we'll come into uh Euro dollar here and uh okay, this is the 60-minute but yesterday it for most of the day it really didn't do too much. It did get a little little chip up in the afternoon. Um, it did actually break through and run into an R1. But I was saying earlier on in the room here, a lot of these that's in terms of pivot trading, that's possibly the only opportunities with some of them. But by the time they've given you the the green light to say, well, this is moving in this particular direction. The the potential reward is too small. Anyway, um, you can just see
1:40 from the dailies here, the euro is coming to a bit of a consolidation phase, and most markets are. Um, this is a the weekly. It actually makes it look better uh than it really is, I guess. Let's just take that off. Here we go. Uh, so it's looking better than it probably is. And well, yep, it had a bit bit of a push back in the yesterday afternoon, but uh chopping now. We got news, so it's too much risk. The pound, of course, this is looking wonderful. Not um it is still trickling along to the upside. It's very slow. Um you see this week, this is the week to date here. Um it's really not convincing at all. Uh what changed my mind actually there could be an R1 play but there's a
2:26 lot of resistance along with that R1. So just tread carefully. Um you got a quarterly pivot sitting there as well. So I would I would just aim short of that. So we'll see what happens in the next hour. um start breaking above this current level if it starts pushing up that way. There's there's an idea. Okay, that's it then, right? Um US dollar yen. That's my ideas for today. Um okay, US dollar yen. Now, a lot of these are doing the same thing. These yen pairs, uh they're pulling back to the underside of the pivot. Some of them have popped through a little bit. Uh like the Euroyen, etc. has popped through. But I'm just looking to see if we get another reaction off one of these pivots. One of the softer currencies. I was looking actually the pound isn't
3:12 necessarily one of the softer currencies, but it's setting up quite nicely. So, either the pound yen there or the Aussie yen was also Yep. It looks like a potential bit. It needs to break down, start breaking down. This could be on for the S1. Um, but the Aussie the Aussiey's been particularly weak so of late. So, um there's potential there. Um the pound, well, it could be the S1 as well in terms of target pound. That's a pound yen. Um there's the possibilities. Just see what happens. If if in the next hour it just carries pushing on, I'll I'll step aside of these. As I said, they're just ideas at the moment. Okay. In other pairs, I I don't don't even want to look at the Euro pairs. There's no point. I'm not trading any of them. I'm going to trade any of them. I'm not in any of them. So it it's
4:00 just wasting your time and mine. Um other uh pound the cross pairs pound Aussie for example chopping along here really ugly on the day ies um just and the pound New Zealand. I mean I don't want to be in any of this. It's just it's just sitting you get into a trade and you're just sitting in risk. I want to be in markets that are moving and what where they are at the moment over the last few days it's got worse than where it was in the first place. Uh so I'm staying in cash uh largely perhaps if one of those yen pairs do does kick off and does reverse I could be interested otherwise I'm staying in cash on the currencies. Um, equity markets are largely the same, but it's just that
4:45 before we look at that, let's just look at gold. Um, so gold here, uh, well, consolidating, not really going anywhere too much. Uh, again, do I want to be trying trying a risky trade on this when it's got no no real direction? It's going sideward. So, I'll keep clear of that. Oil is the same. um you look at it on a 4 hourly and it just looks more even worse. There we go. It's just not really even last week. You just look at last week, this week, there's no there's no real um up or down trends, I should say, because there is a trend. It's the trend is sideward uh and choppy. Equity markets possible movers later. I'm
5:31 looking at this S&Ps again. Let's just take it from the I mean it's it's yesterday was horrible. Look how small a day yesterday was. Um really not doing any sort of flatlining here. Um now it's flatlining near the top. So the there is the re the potential I say risk the potential for it to push out. But it looks absolutely ugly where it sits. If it starts getting a wiggle on then maybe it's a go with in the direction. Um the footsie same same. This is yesterday's trading here. Absolutely. Yeah. No real if you come down to the five minutes, 15 minutes, you might see something within that. In fact, let's just do it as an exercise. Um, that's ugly. That's a
6:17 15minute chart. And proper ugly. So, um, it's just to me not worth it. DAX really struggling, but it's not far off from making again new alltime highs as there's a potential of the the uh ECB meeting comes out. Well, we could see the DAX pushing up, but again, it's it's relying on the ECB meeting. Okay, so not a great deal there, guys. Um would like to have uh reported more, but uh I'm going to have to leave it there. I wish you a great day's trading and I'll catch you tomorrow. Bye for now. [Music]
