Ian Reynolds
Suberia Capital
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Overnight
Japan National CPI March 2025
Markets ignored stronger than expected Japanese CPI on Friday as there was bigger fish to fry.
The lack of progress in everything is fully driving markets. In thin trade after Easter and the passing of the Pope, the USD got hammered, Gold surged yet again and Bitcoin popped.
Adding to the mix:
- A rumour of a huge mineral trust that Trump can use to pay off the national debt, legislation only just passed for him to do so
- Trump calling Powell a "major loser" in a social media post
- Rumours of Hegseth and Bessent resigning
- Supposed CCTV of UK PM Starmer in compromising position
This is what happens when there is no leadership. The USD as the world global currency reserve is being tested in a way that it hasn't since 1971.
Lagarde speaking tonight. Could be important.
Breaking
China warns nations against 'appeasing' US in trade deals [Yahoo! News]
Fed’s Daly Says Rates on Hold But Cuts Still Possible This Year [Yahoo! Finance]
Equities
NASDAQ heading back to the lows. Don't see any significant support until 15,500
NASDAQ Daily
Bitcoin
BTC pops but realistically needs to close and confirm over 92,000 to see the all time high again. A lot of work still to do.
BITCOIN / USD Daily
Commodities
I was lucky adding in the new parallel as Gold got effortlessly above 3,4000 USD. Experienced market participants now talking big moves to the upside, tells me to be cautious as that parallel can't support itself. If you're long, stay long. Don't FOMO in.
GOLD / USD Daily
Foreign Exchange
The USD hit our downside target earlier than expected. USD / YEN looks very weak, Aussie rolling over and cable has hit our upside target. Expecting the authorities to, at least, try to talk markets calmer. More liquid today of course.
DXY Daily
Interesting
Economic Indicators Today
