Ian Reynolds
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Overnight
Economic Indicators Released Overnight
A real mess of data
- US GDP -0.5% in Q1- final revision
- Durable goods orders skewed by China reinstating aircraft orders after tariff tantrum
- Quarterly PCE higher than expected, more watched monthly PCE released today
- Continuing jobless claims continues to climb
And this morning in Japan, Tokyo CPI a lot lower than expected and negative ex food and energy, combined with lower retail sales continues to paint a picture of a very confused economy.
Japan Tokyo CPI June 2025
Also
- Trump's 90-day tariff pause now only has 13 days remaining.
- The 7 year auction went OK.
Equities cheered as Trump backtracked a bit on Powell.
US Equities
Breaking
Japan Reiterates It Cannot Accept 25% Car Tariffs From US [Bloomberg]
Fed’s Barkin says tariffs will push inflation higher [investing.com]
EU Considers Lowering Tariffs on U.S. Imports in Bid to Woo Trump [Wall St Journal]
Bitcoin
Cup and handle anyone? Consolidation over 100k is great, looking for the energy to power higher.
Commodities
A perfect bounce for Silver while Gold bides it's time and Oil consolidates below resistance.
Foreign Exchange
CAD strengthens with a stable USD, looking to push a lot lower.
USD/CAD Daily
Equities
NASDAQ breaking to the all time high, let's see if it has the legs to power on. Lots of peeps talking a melt up, a term normally used when wrong and acknowledging it without acknowledging it.
Economic Indicators Today
