WTI Crude Oil closed higher overnight at $69.17 (3.21%) on news that production at Norway’s Johan Sverdrup oilfield had been halted due to a power outage.
An escalation in European Geopolitical tensions also supported the rally after the Biden administration agreed to allow Ukraine to use US long-range missiles to strike targets within Russia.
A bullish...
In the lead-up to its earnings report on Thursday morning AEDT, Nvidia's stock pulled back 1.29% to $140.15 overnight. Expectations are high, and the market will go into the announcement positioned long, looking for a fifth consecutive quarterly earnings beat.
If Nvidia's results beat expectations, its shares could climb above $150 in the sessions ahead....
25 minutes until AU jobs data drops:
The market is looking for +25k jobs and for the U/R to remain at 4.1%.
#AUDUSD is trading at .6492/94, trying to claw its way higher after closing at an almost seven-month low. The risks there appear to be a test of multi-week support in the .6360/50 area.
The AU rates market is pricing in just a 10% chance of a rate cut...
USDJPY closed higher o/n at 155.47 (0.55%), marking its highest daily close in 19 weeks as the rally in US yields extended overnight following the confirmation of a Republican Sweep.
After its effortless glide above 155.00 overnight, there will be some concerns expressions on the faces of Japan’s top currency officials as they enter the office this morning, with...
Gold finished lower overnight at $2619 (-2.42%) undercut by higher #yields and a stronger #USD.
If gold were to now see a break below interim support at $2600, we would expect to see further unwind of long gold positioning taking it back towards $2550.
Bitcoin trades higher at $86,976 (+7.88%) after hitting another fresh record high of $88,480 earlier this morning.
Looking at what comes next - after BTC struck a high just below $74,000 in mid-March, it then spent the next seven months winding up as tight as a spring.
The election of the “pro crypto” Donald Trump last week was the trigger for the spring to...
Gold is trading lower at $2660 (-3.04%) as the Republican election victory bolstered the USD and US yields and sparked a sharp sell-off in metals.
The sell-off accelerated after gold broke below trend line support at $2690ish, leaving the yellow metal vulnerable to a deeper decline towards $2600 in the sessions ahead.
Bitcoin trades higher at $75,976 (+9.47%), surging after the election of the pro crypto Donald Trump. As a reminder, Trump has promised to launch a national crypto stockpile, fire SEC Chair Gary Gensler and look to ensure all future Bitcoin is mined in the US.
Bitcoins ability to hold above key support $67/65k ahead of the US Election and its break and likely...
NASDAQ100 - cracks have appeared. Will they widen after the US Election.
After failing to break above its mid-July 20,690 record high early last week, the first cracks for the Nasdaq 100 appeared on Thursday after it closed below horizontal and uptrend support at 20,000.
Should the Nasdaq 100 see a break of critical support at 19,600/500, it would indicate that...
Bitcoin trades lower this morning at $67,807 (-1.60%). In the early part of this week, the focus has been on the final set of US election polls, revealing that pro-crypto presidential candidate Trump's election lead has evaporated.
BTC appears to have picked up on that shift in sentiment in the middle of last week, as it heads for a sixth consecutive session of...
Bitcoin trades at $72,362 (-0.50%), on track for a stunning 14.3 % gain in October, its largest monthly gain since March 2024.
Bitcoin's rally this month has been driven by a supportive risk backdrop, geopolitical uncertainties, and the market's continued pricing in a Donald Trump election victory next week.
Bitcoin needs to see a sustained break above...
The ASX200 snapped a three-day winning streak yesterday after the mixed Q3 2024 inflation data against the backdrop of a still firm labour market dashed hopes of an #RBA rate cut before year-end.
Ahead of its final trading session in October, the ASX200 is down 1.08% for the month and continues to spin its wheels below multi-month trend channel resistance, which...
Crude Oil closed lower overnight at $67.38 (-6.17%), erasing all and more of the previous week's rally following Israel's restrained weekend response to Iran's October 1st attack.
With geopolitical concerns on the back burner for now, this week's data-rich US calendar will provide more insights into the demand outlook for crude oil ahead of next week's US...
USD/JPY closed higher at 153.29 (+0.65%), up 6.70% in October, putting the JPY on track for its worst monthly performance in 8 years (since November 2016).
The slide in the JPY accelerated yesterday after the LDP/ Komeito ruling coalition lost its lower house majority for the first time since 2009. There are signs that Ishiba will be able to cobble together an...
AUDUSD is trading this morning at .6658 (-0.72%), an almost six-week low, as its bounce to yesterdays .6723 proved short-lived, which coincidentally was the title of the Ozzie article ⬇️ yesterday.
The fall in the AUD/USD came as US yields and the USD extended their gains overnight, continuing to price in a higher chance of a Donald Trump election victory and...
The ASX200 this week has resumed its battle with multi-week trend channel resistance, which currently resides in the 8325/30 area.
A sustained break and close above here would set the ASX200 up for a run towards 8450 into year-end. Conversely, a failure to see a sustained close above 8320/25 combined with a fall through support at 8110/00 would warn that a...
US stocks mostly closed higher overnight, buoyed by a mix of economic data (retail sales and jobless claims) that would melt the heart of even the most hardened economic critique, sending the Dow Jones to a new record high.
Drilling down, the Nasdaq100 remains the laggard of the key three key indices. However, provided it remains above short-term support at...
USDJPY is trading higher at 150.21 (0.38%), extending its gain ahead of today's Japanese inflation data due in just under an hour.
Headline inflation in September is expected to rise by 2.6% YoY a step down from 3% prior, with core CPI expected to rise by 2.4% YoY falling from 2.8% prior.
We prefer fading rallies in USD/JPY towards the 151/152 resistance area.
