Yesterday, stock trading screens were green after a cooler than expected temperature PPI (-0.5% in comparison to 0.0( ) and an increase that was greater than expected in Unemployment claims (239k vs. 228kThe Wall Street gains of more than 1% were a result of the ). The NASDAQ surged 1.99% The top of the 12,000 level again. Then, level again. US500 jumped 1.33% It has been a while since I last posted. 4,000 Mark for the eleventh consecutive session. The US30 Was up 1.14% Top 34,000 First time since mid-February. Treasuries have closed in the negative 10yr at 3.44% The curved line is now inverted by 52 points. USD The market continues to decline, and is trading at a 12-month low. EURUSD Overlooking the other side of the world 1.1070 This morning Sterling Trading at 1.2540. Asian markets cautious & flat (save NIKKEI +1.1%) & European FUT’s are firmer ahead of US bank earnings, Retail Sales and UoM Consumer Sentiment.
Overnight Data Singapore’s The central bank surprised the markets by stopping its tightening cycle. They were expecting even more restraint. Singapore joins Canada & Australia, India & South Korea to press the pause button. The outlook was also gloomy.
- FX – USDIndex Continued to decline 100.50 The 12-month lows are also reflected in a third week of declines. EUR Spiked to 1.1070 Hold the bid and place it earlier JPY Diving from 133.00 Testing is a good idea 132.00…
