MARKET REPORT
(Unburdened by what has been)
Buers Van Berlage
Day in Review:
Today:
(Kamalanomics: Govt-manipulated data with un-reported historic downward revisions to make the economy look more favorable):
DATA:
– Fed’s Kashkari welcomes a debate about a September rate cut
COMPANIES:
– NASDAQ/S&P lodge longest win streaks of 2024
– 17k AT&T workers strike
– GoPro to cut 15% of its workers
GENERAL:
– Blinken said Israeli PM Netanyahu meeting was constructive, and expects negotiations to continue until an agreement is reached
– US VP Harris proposes raising corporate tax rate to 28%
– Cheese smoked (bazinga) again -5%, Corn -3.65%, Cocoa +3.19%, Rebar +6%
– Equities up, Treasuries mixed, Crude down, Dollar down
DOLLAR DX down: 101.87 -0.58% (102.27 – 101.85) LOWS
– AUD UP: 67.31 +0.98% (66.78 – 67.37) HIGHS
– EUR down: 90.20 -0.5% (90.63 – 90.16) LOWS
– GBP up: 129.89 +0.3% (129.41 – 129.97) HIGHS
– JPY down: 146.55 -0.69% (145.22 – 146.69) HIGHS
Coming Up:
– Chinese LPR, German Producer Prices, EZ HICP (F), Canadian CPI, Democratic Convention, Riksbank & CBRT Policy Announcement, RBA Minutes; US Primary (down-ticket), Democratic Convention
Speakers:
– Riksbank’s Theeden
– Fed’s Bostic, Barr
MAJORS:
DX:
– The Dollar extended on Friday’s losses, seeing downside against all of its G10 peers. The dollar index fell below 102, to a trough of 101.85, amid a very thin session with regards to newsflow, except for Fed’s Kashkari (2026, Voter), who noted a debate about potentially cutting rates in September is an appropriate one to have.
Data releases were thin, with participants looking towards later on in the week for catalysts in the space, namely, FOMC Minutes (Wed), Initial Jobless Claims (Thu), S&P Global PMI Flash (Thu), and Fed Chair Powell at Jackson Hole (Fri)
DOLLAR DX down: 102.44 -0.53% (102.97 – 102.43) LOWS
EUR/GBP
EUR down: 90.68 -0.46% (91.08 – 90.68) LOWS
GBP up: 129.43 +0.7% (128.67 – 129.47) HIGHS
AUD:
RBA MINUTES!!!!
AUD UP: 66.69 +0.9% (66.22 – 66.73) HIGHS
YEN:
– Japan released mixed Machinery Orders data, where the M/M beat and Y/Y unexpectedly declined.
JPY DOWN: 147.59 -1.13% (149.08 – 147.56) LOWS
GOLD/SILVER:
– Holds recent highs
GOLD UP: $2546 +2.15% (2489 – 2547) HIGHS
EQUITIES:
– MAG 7 hits RES
EUR:
– DAX: +0.58% at 18,428
– FTSE 100: +0.55% at 8,357
– CAC 40: +0.70% at 7,502
– Euro Stoxx 50: +0.65% at 4,872
US:
– SPX +0.97% at 5,608
– DX +1.32% at 19,766
– DJIA +0.58% at 40,897
– RUT +1.2% at 2,168
Sectors (W to S): Consumer Staples +0.32%, Energy +0.42%, Materials +0.50%, Industrials +0.59%, Utilities +0.59%, Financials +0.61%, Health +0.63%, Real Estate +0.64%, Consumer Discretionary +1.14%, Communication Services +1.44%, Technology +1.44%.
CRYPTO
– https://finance.yahoo.com/news/bitcoin-poised-250-000-despite-205211114.html
$250k for BTC….?
CRYPTO: BTC/ETH UP/up: 59376 +5.59%, 2615 +3.34%
KEEP DOING WHATS WORKING
Best of luck out there. Let the market come to you
Post of the day:
https://www.youtube.com/shorts/8vy1ul0vw98
Song of the day:
https://www.youtube.com/watch?v=W2WNYjfvktw
Joke of the Day:
https://www.youtube.com/shorts/yBA_xCIr_28
(Seize all assets of Duke and Duke enterprises)
I can be contacted should anyone have any questions, input at [email protected] during US hours of EST 9am until 5pm
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