Limit Up! 17th April 2025

Ian Reynolds April 17, 2025

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Overnight

China GDP Q1 2025

The much disbelieved GDP suggests an OK economy but then again it always does.

uk cpi

UK CPI March 2025

Less than expected CPI, slightly less, great for UK. A sharper drop would be more worrying.

US Retail Sales March 2025

Retail confirming Powell's stance on the economy.

Bank of Canada holds with the governor assuming a long lasting trade war [YouTube]

Equities closed lower with NVIDIA gapping down as Administration looks to control exports of chips through licensing. Otherwise back to going lower until something happens.

US Equities

Nothing new from Powell at Economic Club Of Chicago

Economy

Growth has slowed
Sharp decline in consumer sentiment
Slowing but positive growth
Job growth has slowed and unemployment low but stable
Wage growth moderating
No inflationary pressure

New administration

Unknown influence on economy
Tariffs greater than expected
Inflation expectations have moved up

No mention of hedge fund bailouts which some "experts" were predicting.

Tariffs will hit US economy and raise prices, Fed boss warns [BBC]

Breaking

US to demand EU pulls away from China in return for cutting tariffs [Irish Times]

Hongkong Post suspends goods mail services to US [Reuters]

Equities

Definitely the chart of the day. Tesla has lots of engaged sellers and lots of engaged buyers meaning volatility and great price action. At the moment the big move down is consolidating in a bear flag with resistance at the uptrend line where sellers should sell (285.00). Long term support from right back from when price was 20.00, is at 165.00. Below 165.00 is going to be very messy.

TESLA / USD Daily

Bitcoin

BTC hanging in there despite the NASDAQ drawdown. Tagged the downtrend support but still needs to confirm. Maybe Easter is it's opportunity when the tradfi markets are closed.

BITCOIN / USD Daily