Yesterday I posted (factually per Reuters) that hundreds of millions of individual social security and sensitive data had been hacked and sold on the black market in the dark web in recent weeks. Almost a billion actually. The place to go to see if your data has indeed been hacked and sold is https://npd.pentester.com/.
Reuters poll: S&P 500 to end 2024 at 5600 (May poll 5302, currently 5600); sees 5900 be end-2025
Source: Newsquawk.com
I could say something egomaniacal like “Euro is now officially a sell” but that would be an absurdly arrogant means of verbiage. I wonder how many of them said something almost verbatim this morning in other forums. When a CTA, I learned to be more realistic and responsible than that with one’s language.
There is zero reason to be long UsdJpy today unless some unusual dominant fundamental or market activity condition suddenly arises. Eu metrics are dominant on the buy side in some metrics but there is clear positioning in other metrics on outside months which shows sell side interest building so current levels are producing a pivot level as I type. When this happens usually a sustained shift takes place lasting for one week minimum.
Bloomberg – Goldman Sachs Group Inc. and Wells Fargo & Co. economists expect the government’s preliminary benchmark revisions on Wednesday to show payrolls growth in the year through March was at least 600,000 weaker than currently estimated — about 50,000 a month.
Has the FED has become a veiled political arm and not a FED? Many are more than satisfied that is the case. Regardless, the hidden figures alters the interest rate outlook and the presents the likelihood they are behind the curve in reducing rates which ultimately will cause highly chaotic economic results for quite some time.
I do not know why my charts sometimes change the high/low. Now it is showing 1.1134 on a weekly (was showing 1.1137) but I will always go for the “50” level as a key one to watch..
Brief spike just now through 1.11 sets this as the pivotal level to watch (options level?) as that can often lead to being a top.
Has to hold 1.1092 or risk shifts to 1.1082.
USD’s slide into the toilet is likely a reflection of player high expectations of upcoming Jerome yikyak on Friday about accommodating (assuaging?) them with a signal of sept Fed easing. The one element that may be in for some correcting is whether what-ever easing maybe gifted upon the market is a start of a process.
The degree of perception of any Powell dovishness will likely determine how much more the DLR will weaken or not.
Market is a bit too giddy about Fed’s easing expectations.
A look at the day ahead in U.S. and global markets by Alun John, EMEA breaking news correspondent, finance and markets.
It’s been quite a recovery for the S&P 500 stock index since early August’s turmoil. The benchmark has risen for the past eight trading sessions, its longest streak of 2024, and is now just 1% off its mid-July record high.
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