Ian Reynolds
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Overnight
Economic Indicators Released Overnight
More job openings and lower factory orders set the tone in the US as equity markets rallied hoping for rate cuts. FOMC committee members can't seem to decide but the markets know best.
In Europe headline CPI printed below the ECB's target (2%), coming in at 1.9%. For sure core CPI needs to drop below the target but we're seeing a big opportunity in currencies beginning to appear. Inflation in US and Japan and deflation in EU.
Equities ended positive as month beginning retail flows showed up.
US Equities
Breaking
Should the U.S. refuse to pay back its $1 trillion debt to China? [NBC News]
Bitcoin
BTC still in the bull flag and waiting for liquidity according to M2 watchers.
BITCOIN / USD Daily
Commodities
Oil trying to break up, and we could revisit the scene of the crime at $69.25 in Spot Brent.
SPOT BRENT Daily
Bonds
Range trading on the 10 year but 30 year yield is sitting on support. We've seen a lot of pressure on treasuries but so far they haven't cracked.
US 30 Year Government Bond Yield Daily
Foreign Exchange
The Euro still looking good but is that a head and shoulders pattern I can see?
EUR / USD Daily
Equities
The consolidation looks to be turning into a bull flag on the NASDAQ. Nothing seems to stop retail at the moment, but institutions aren't interested.
NASDAQ COMPOSITE Daily
Interesting
Thames Water on the brink after KKR drops out of rescue deal [Reuters]
Economic Indicators Today
