Ian Reynolds
Overnight
Indicators Released Overnight
Focus overnight was on the poor GDP numbers from France, Germany and the EU as a whole. The ECB cut further as expected and they're well behind the curve now. Rates following the economy down is a symptom of a reactive (clueless) central bank. Their currency is in peril.
In the background Gold hit an all time high amongst rumours that the Bank of England can't fulfil it's obligations to entities withdrawing Gold to Comex. Apart from Gold being a monetary hedge, the potential tariffs on Mexico and Canada of 25%, have forced future buyers and those short paper Gold to pull the trigger early.
Markets are now having to deal with a FED and a President at war. The move in Gold is for a number of reasons but one of them is investors taking first moves to secure themselves from a monetary - fiscal war in the US.
Breaking
ECB cuts interest rates another 25bps
Equities
The Dax hits an all time high as the economy craters and the currency weakens. That's an Emerging Market economy.
DAX Daily
Bitcoin
Bitcoin still stuck in the megaphone pattern although structure has changed and we have higher highs and higher lows.
BTC / USD Daily
Foreign Exchange
USD / CAD trying to break out
USD / CAD Daily
EUR / USD heading back down again, possibly to the scene of the crime at 1.0305
EUR / USD Daily
Bonds
UST10 yields moving down to support around 4.46%
US 10 Year Government Bond Yield
Precious Metals
Gold breaks to an all time high
Gold Daily
While Silver confirms above the trendline
Silver Daily
Economic Indicators Today
