Limit Up! 2nd September 2025
Overnight
Economic Indicators Released Overnight
Quiet data-wise overnight with the US and Canada on holiday. Such data as was released portrayed economies that are stagnating at low levels. We've seen this consistently over the past year. Green shoots of recovery die off pretty fast.
However one market was going nuts yesterday: Silver.
Breaking
ECB's Lagarde warns of risk to world economy via Trump interference on Fed [Reuters]
Rhode Island’s ‘Taylor Swift Tax’ on vacation homes of the wealthy is spreading to other states [CNBC]
Bitcoin
Price action is all negative for BTC but we can't get below 107k. Will be turning positive soon and we can take a look at the inverse head and shoulders once price confirms above the neckline at 114k.
Commodities
Gold spiking too towards the all time high. Very positive but would likely see a pushback when markets reopen.
Bonds
UK long yields breaking higher again. Markets are near to forcing some clarity from woeful UK government.
UK 30 Year Government Bond Yield Daily
Foreign Exchange
USD, via DXY, looking week in thin trade. Below 96.75 and price can't even support a short-term higher high.
Interesting
Copper Edges Up Toward $10,000 as Demand Drives Month of Gains [Bloomberg]
Meloni Rebukes French Claim of Italian ‘Fiscal Dumping’ [Bloomberg]