Limit Up!

Limit Up! 7th March 2025

Written by Ian Reynolds | Mar 6, 2025 11:50:35 PM

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Breaking

Overnight

I won't say the T word today.

ECB cuts

  • Deposit Facility Rate now 2.5%
  • Disinflation on track to target
  • 2% inflation on sustained basis
  • Wage growth moderating
  • Rates are becoming "meaningfully less restrictive"
  • Data dependent / meeting by meeting

 

Economic Indicators Released Overnight

Mixed data as weekly claims drop but continuing jobless claims up. Some talk of Canada / Mexico tariffs being delayed / altered.

Equities lower as new AI technologies (even newer than Deepseek) look to disrupt the incumbents.

World Equities

Bitcoin

It's Strategic Reserve Day today, along with Nonfarm Payroll. BTC weathered the further selling in equities.

BITCOIN / USD Daily

Commodities

Oil looking super heavy as OPEC members increase output. The false break higher will have drawn in longs now out of the money with stops below 69.00.

SPOT BRENT CRUDE / USD Daily

Bonds

JGB yields have burst higher but they are only 1.5% still. CPI in Japan is way higher. As higher yields support the currency aren't we just waiting for the breakdown in USD / YEN to happen? Any carry trades still around will blow up, making a really quick move possible

Japan 10 Year Government Bond Yield Daily

Foreign Exchange

This is the monthly chart where head and shoulders top break lower is possible. The candle that hits the neckline could hit anytime making the target potentially lower still.

USD / YEN Monthly

Equities

Despite all the FUD the NASDAQ still hasn't broken long-term support.

NASDAQ Daily

Interesting

Economic Indicators Today