Ian Reynolds
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Overnight
Economic Indicators Released Overnight
Surprisingly lower CPI in the UK gave Gilts a good rally as Gold and Silver attempt to find a base, Bitcoin underperforms with a stable USD and rates.
It seems the FED won't just be flying blind, they'll be flying into fog, after ADP stopped providing its data to the Fed shortly after a speech by Fed governor Christopher Waller in late August drew attention to the central bank’s longstanding use of its weekly payroll data.
Fed Lost Access to Private Jobs Data Ahead of Government Shutdown [Wall St Journal]
US Equities sagged as central bank week draws near.
Breaking
Fed Floats Plan With Much Smaller Capital Hikes for Big Banks [Bloomberg]
Bitcoin
Bitcoin continues to trade like a dog. All rallies are sold hard. Now approaching firmer support around 104k. Read more
Commodities
The fall is slowing and some good support levels come into view. Price is still on 48.00, so near to the previous 2 all time highs at $50.00. Remember, there is no such thing as a treble top. Not saying breaking through is easy, as we’re finding out. Read more
Foreign Exchange
With DXY bid and a new Prime Minister, the YEN is weakening. I think a softening of the tone of the hawks at the Ministry of Finance and Bank of Japan, thanks to the PM, will be good as rates need to normalise, not go up. Market rates that is. Read more
Equities
The recent 2 years of US equity action has been full of commentary about the huge crash about to happen. And we’re at the all time high. Again price has broken below the uptrend but not confirmed. And price keeps going higher, even on red candle days. Read more
Bonds
Much better than expected UK CPI (remember, the Bank of England told us this would happen) prompts big rally in Gilts despite all the political and debt issues. Yield is back near to when the Old Lady first cut this year on February 6th. Read more
UK 10 Year Government Bond Yield Daily
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Economic Indicators Today
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