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US Economic Indicators Released Overnight
US purchasing managers report weaker across the board except for the inflationary part, supports current market narrative, albeit just post Nonfarm Payroll, of stagflation.
Wall Street ends lower as investors consider tariff impact on results, economy [Reuters]
US Equities
Trump Says He Will Hike India’s Tariffs Over ‘Next 24 Hours’ [Bloomberg]
More bearish price action for BTC. We're looking for a last washout of recent investors to set us up for the 4 year cycle blow off top. This consolidation could last a month before we get the action.
The good bounce in Silver is looking to revisit the $39 level. Gold solid as well with Bitcoin consolidating.
We haven't looked at Cable too much since the strong uptrend broke, but clearly now the retrace to the scene of the crime and subsequent strong rejection has us in a bear flag.
NASDAQ couldn't sustain the strong rebound. NFP has caused market participants to re-evaluate strength of the US economy and we'll need solid proof before we head higher.
Longer bond yields beginning to drop now. Weakness of the economy now overriding debt/inflation issues
US 30 Year Government Bond Yield Daily
RBA expected to kill rapid-fire rate cut hopes, say economists [AFR]