Ian Reynolds
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Overnight
Economic Indicators Released Overnight
As steep decline in US consumer confidence added to the narrative of the US consumer being insolvent. So many graphs, stories and opinions but the narrative still hasn't appeared in the mainstream government statistics.
Americans’ confidence in the economy hits a multi-year low [Semafor]
Equity markets were mildly positive as we chilled in a tariff-free day (so far).
World Equities
Breaking
Bitcoin
Quiet but positive tech stocks supportive of BTC pushing for next resistance of 90,000. Got a feeling that this is going to break significantly before the end of the month.
BITCOIN / USD Daily
Commodities
Spot Brent tried and failed to breakdown yesterday. This is the monthly chart so need to wait for Tuesday. Probability favours lower and that's a massive potential drop to $22.50
SPOT BRENT Monthly
Equities
Zooming out, Tesla's long term price support is around 160.00. Price is testing resistance at 280.00 in this current week so if it can't break up then testing that long term support could be on the cards.
TESLA Weekly
Bonds
10 year Japan yields still push higher and a long way to go. BoJ YoY CPI yesterday in at a consistent 2.2%. Or does China exporting deflation crush CPI globally?
Bank Of Japan Core CPI YoY
Japan 10 Year Government Bond Yield Daily
Foreign Exchange
FX quiet and still watching heads and shoulders on AUD / USD. A break and confirmation below the neckline could see a move below 0.6000.
AUD / USD Daily
Interesting
Japan’s Ishiba Plans Price Measures Through Existing Budgets [Bloomberg]
"The Treasury Department is drafting recommendations for streamlining banking regulators like the Office of the Comptroller of the Currency and Federal Deposit Insurance Corporation, three people familiar with the process told Semafor — after concluding that the agencies and their workers likely can’t be merged without a green light from Congress."
Treasury’s play for regulatory control puts it on collision course with Fed [Semafor]
Economic Indicators Today
