Ian Reynolds
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Overnight
Economic Indicators Released Overnight
The US trade balance is clear to see in the March report at US$140B. No real tariff news overnight so we're back to No News Is Bad News with equities falling.
US Equities
Bond markets rallied somewhat as fears of a poor 10 year auction were allayed.
And the Taiwan Dollar and Oil reversed some of their gains / losses.
The FED met yesterday and we're waiting for the presser tonight.
Meanwhile Powell's favourite journalist comments
"Fed officials agree that rate cuts aren't appropriate until they see concrete signs of slower spending and higher joblessness. But differences are flaring over how confident officials can be that price increases from tariffs and shortages will be temporary."
Breaking
China Plans Wednesday Briefing on Market Stabilization Measures [Bloomberg]
Commodities
Huge buy orders in the Gold market as price jumped $100 in a minute.
GOLD / USD Daily
Bitcoin
BTC holding in there. There will be a big move soon one way or the other.
BITCOIN / USD Daily
Equities
S&P beginning to roll over, can't make a higher high and pierced but rejected at the 61.8% Fib level
S&P 500 Daily
Bonds
Chinese 10 year yields back down to the all time lows again. We'll see at the weekend where CPI comes in.
China 10 Year Government Bond Yield Daily
Foreign Exchange
DXY didn't confirm the break higher and has turned into a bull trap. Really no buying interest anywhere after a 10% fall. Doesn't bode well.
DXY Daily
Interesting
US Seeks Forced Sale of Google Ad Technology Products [Bloomberg]
Meet the MEP who wants to bring Canada into the European Union [Euronews]
Economic Indicators Today
