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Archives by Year:
GBP/USD Down After US CPI Figures And UK GDP Data
Photo by Colin Watts on Unsplash GBP/USD tallied another day of losses falling below 1.3050. US CPI came in mixed and markets reduced the odds of a 50 bps cut. Earlier in the session the UK reported weak GDP figures. The GBP/USD pair remains under pressure, trading near 1.3045 as the market reacted to the latest US inflation data. […]
GameStop: Where Do We Go From Here?
Image Source: UnsplashOn Wednesday, the memetic gaming retail chain GameStop (GME) dropped by 15%, going from Tuesday’s $23.50 to $19.93 per share. This puts the stock closer to its 52-week average of $17.80 and far removed from the 52-week high of $64.83 per share.The driver behind the stock’s most recent volatility is the Q2 2024 earnings result released […]
Nothing Here Screams “Stop The Rate Cut Music”
Image Source: PixabayMARKETSOn another roller-coaster day for investors, U.S. stocks quickly shook off a higher-than-expected CPI-induced swoon as Big Tech came to the rescue with a classic “buy-the-dip” rebound. It begs the question: Isn’t September supposed to be a bad month for stocks? If you’re banking on Wall Street being that predictable, you’re probably giving it […]
Stocks And Precious Metals Charts – Fear Not
Image Source: UnsplashA fairly in-line CPI reading seemed to have a delayed reaction in cheering the risk markets higher.VIX fell.The Dollar chopped around and finished just about unchanged.Gold backed off a bit, but silver rose with equities.PPI tomorrow.We’re in the ‘silly season’ now as the election approaches. Added to that the stresses of our irrational foreign policies […]
Powerful Rally Pulls Indices Back From Brink
Image Source: PexelsToday’s economic data generated a sizable gap down across indices which carried into the open and for the morning session. At this point, bears had all the momentum until buyers made their appearance and kept buying pressure right into the close.The net result was to leave large bullish candlesticks that offer bulls something to […]
US Inflation Drops To 2.5% In August
Image Source: Pixabay US inflation for August rose 2.5% year-on-year, in line with the market estimate. The US dollar posts gains against the major currencies today. Market odds of a 25 basis-point cut this month increase to 85%. US Inflation Continues to Decline The US Consumer Price Index (CPI) continues its downward path. The August CPI […]
Beautiful Gap Fill
Image Source: UnsplashBetween the Fibonacci (on the /ES) and this gap fill (on the DIA), the support was clear.More By This Author:Ackman Was Right Triple-Leveraged Victory Lap My Bearish Positions
Jensen Saves The Day: Nvidia CEO Sparks Market Meltup, Sends NVDA $250 Billion Higher
Image Source: PixabayAfter yesterday’s lethargic sideways move, where traders sat on the sidelines waiting for the outcome of the triple main event of the past 24 hours, the presidential debate result, the CPI report and NVDA’s presentation, the Wednesday market did not disappoint and there were both emotional lows and more recently highs.The action over the […]
Six Measures Of Instantaneous Core Inflation
Image Source: PixabayWith August CPI release, we have core, chained core, supercore, and services supercore (via P. Skrzypczynski). PPI comes tomorrow.Figure 1: Instantaneous inflation for core CPI (blue), chained core CPI (tan), supercore CPI (pink), services supercore (light green), PPI core (red), and PCE core (green), per Eeckhout (2023), T=12, a=4. Source: BLS, BEA, P. Skrzypczynski, and author’s calculations.While instaneous […]
Inflation Guy’s CPI Summary – August 2024
depositphotosLet me start with the punch line, which I think will not be a very common take: this report does not stop the Fed from easing 50bps next week, and honestly, it doesn’t really even hurt the chances very much.The inflation swaps market was pricing in 0.05% on an NSA basis, roughly 0.13% on a […]
