April 11, 2015

Matt and Alex discuss currencies and then global stock market indices. At 6:00, Matt says he believes the British Pound and Euro are very close to a bottom. He mentions that the commercials are long 112,000 British Pound future contacts (105,000 net), which represents 50% of the long open interest. At 7:10, Matt says the Dollar Index is back near his target high and might consider shorting Dollar futures soon. At 10:15, Matt discusses his long-term bullish view of the Australian Dollar but notes that there is a high correlation between AUD and gold. He is waiting for a bottom in gold before getting short-term bullish AUD. At 15:30, Matt agrees with Alex’s bearish view of the US stock market and notes that the banks large long position in volatility futures, suggests a selloff is coming soon. At 16:45, Matt says Nikkei is getting close to a target high.