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Economic Indicators Released Overnight
Canadian CPI continues to be way too high and is going to be a real problem if it keeps rising. The real shocker yesterday was Chinese housing and investment. Sentiment has shifted from optimistic, after Powell's presser, to negative as the implications for the broader economy sink in. Everywhere there is bad news and for now, bad news is bad news.
US Equities
Fed decisions distorted by ‘phantom inflation’, says Stephen Miran [FT]
Delayed US employment, CPI reports are due this week, with many gaps [Reuters]
Japan business mood hits 4-year high, keeps BOJ rate-hike view alive [Reuters]
Bank of Japan: Drama builds around this week’s rate hike [investing.com]
Bitcoin breaks the short-term support channel at 88k and plunges. Ditto Eth. Price action is very weak. We should definitely see 80k, where we have a small bid, and probably 74k soon after. Read more
A super bullish close as Silver shrugs off the LBMA and COMEX hammer on Friday to look likely to have the highest closing price of all time. Read more
USD weakness is showing up in USD/CAD more than anywhere else. The sharp break of trend support at 1.3940 has quickly moved price down to 1.3770, with next support at 1.3720. Read more
The DJIA still looks bullish, S&P 500 is neutral but the NASDAQ is rolling over with 22,200 is next stop. Shorts have a great stop above 23,700 and a target at 20,500. Read more