Limit Up! 4 November 2025

Overnight

Economic Indicators Released Overnight

A lot of noise overnight data-wise but markets are running on FED/Credit/Banking system. Thus, aside from AI news, things took a very flat tone.

The next direction for markets could be the next move for the USD. The DXY has spent 3 months banging along the bottom of a uptrend since 2011. Markets are short USD. Dedollarisation involves buying USD to repay USD bonds before refinancing. The FED's 2 recent cuts seem to have confirmed the bottom is in. USD/YEN and USD/CAD already left the station.

The next move up could be really painful.

US Equities were mixed.

Breaking

Bitcoin

Plenty of old positions getting out +100k has really put a lid on price. The mood is sombre and liquidity is low. Gold, Silver and stocks haven’t been able to keep BTC on track for a new cycle high. Read more

BITCOIN/USD Daily

Commodities

Silver was looking better yesterday but rolled over at the close. We like the fact that price dropped into the old trend channel and found good support around $45.50. The upside is definitely capped at $49.30. Read more

SILVER/USD Daily

Foreign Exchange

The close over 99.20 looks bullish but with a couple of pivot points before 101.50 to get over, we’re looking for a big spike higher to confirm the trend for the USD much higher. Read more

DXY Daily

Bonds

Unconfirmed as yet, but yield closes 3 times higher then the downward trend. As we’ve seen in other countries, e.g, UK, central bank rate cuts create a floor for long-term yields. The recent push down to 3.93% without reaching trend support at 3.83% suggests a spike higher is coming.

US 10 Year Government Bond Daily

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