Limit Up! 22nd July 2025
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Overnight
Economic Indicators Released Overnight
The People's Bank of China kept rates unchanged which surprised no-one, and higher raw materials prices in Canada, were the only economic data points overnight and today focuses on Powell, Bowman and BoE's Bailey speeches. More rumours of Powell resigning and Bessent keeping the Treasury's foot firmly on Powell's neck is keeping markets nervous.
US Equities
Breaking
Scott Bessent calls for probe into ‘the entire Federal Reserve institution’ [FT]
Bitcoin
The shooting star still in control of the price action with some long wicks topsides. Watch equities for immediate price action.
Commodities
Gold looking to breakout, Silver is just below $39.
Foreign Exchange
DXY couldn't hold the gains and the lower high looking to push price lower.
Bonds
Since Inauguration Day on 21 Jan, 10 year bond yields have been in a horizontal wedge. Got a feeling the FED will push yield out of this pattern soon.
US 10 Year Government Bond Yield Daily
Equities
Shooting star on S&P 500 and NASDAQ COMPOSITE now as the froth seems to be coming out of risk assets and rotating into Gold and Silver.