The long end of the Treasury bond market is in danger of breaking down to the point that yields are on the verge of erupting higher. This is what debt spirals are made of.
Liquidity is likely to dry up quickly after the ECB meeting, which is widely expected to result in a quarter-point cut, ahead of tomorrow's holiday for much of Europe and North America.
Dollar index it's not at the lows, so there’s a possibility of another and final drop toward the 98.00–98.50 area before the market turns up into a higher-degree correction by Elliott wave theory.
U.S. markets closed lower due to Nvidia's warning and Fed Chair Powell's remarks. Retail sales rose, while industrial production declined. Asian markets were mixed. Oil prices rose on supply concerns, gold and silver prices fell. Dow futures up, dollar strong.
Ethereum remains in the final phase of the ABC correction, where wave C is developing into sub-wave (4). It is progressing toward sub-wave (5), likely to complete within the $1,230–$1,250 range.
The Japanese Yen (JPY) retains its negative bias through the Asian session on Thursday against a broadly recovering US Dollar (USD) as a generally positive risk tone is seen undermining demand for traditional safe-haven assets.
Gold price extended its record streak for the third time in the week as the Greenback weakened due to tensions between China and the US related to trade policies.
The GPIF — the world’s largest pension whale — just dropped a geopolitical bombshell, quietly removing China A-shares from its foreign equity benchmark.
The volume has been coming in waves, and today may have just been the start of the next one. If volume is heavy tomorrow, it’s likely because sellers are pushing prices lower.
