Limit Up! 30th June 2025
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Overnight
Economic Indicators Released Overnight
Not much relevant data over the weekend but Donald Trump got nearer to the Big Beautiful Bill passing into law. Looks like another US5T will be added to the debt ceiling. Bond investors will be on high alert.
Trump wins vote to advance One Big Beautiful Bill [The Times]
Bitcoin jumped a bit on this, and US equity futures are higher again.
Breaking
Trump Says He Doesn’t Expect to Extend July 9 Tariff Deadline
World economy faces 'pivotal moment', central bank body BIS says [Reuters]
Canada rescinds digital services tax to revive US trade talks; eyes July 21 deal [investing.com]
Bitcoin
Banging on the door now. We'll see some action this week.
Commodities
Gold tagged support and mover higher.
Foreign Exchange
DXY right into long term support and the sell-off since February has had little short squeeze price action, suggesting a more systemic reallocation away from the USD.
DXY Daily
Equities
Futures up yet again. We're smelling imminent rate cuts and QE as the debt ceiling gets increased.
US Equity Futures