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September began on an ugly note, to say the least. The bonds gained and US equities tumbled after the latest ISM data showed a fifth month of contraction in the US manufacturing, and at accelerated pace. The latter revived the recession worries ahead of this week’s critical US jobs data, and sent the S&P500 more than 2% down. This was the worst selloff since August 5, when a weak jobs data from the US had boosted the recession worries, the expectation of a 50bp cut from the Federal Reserve (Fed) and resulted in an almost 10% selloff of the S&P500....

The new week started with caution. The US and Canada were off, and news from Europe weren’t exceptional. The data released on Monday showed that the manufacturing PMI figures for August were slightly higher than expected, but numbers in major Eurozone countries remained below 50, in the contraction zone for another month. Volkswagen announced unprecedented factory closures in Germany. But the European indices gained, along with the euro. Mood is different this morning, with the US dollar broadly in demand against major peers.
All eyes are on the US jobs data this week. Investors around the world needs the Federal...

August ended on a positive note. Friday’s data showed that the US PCE and the core PCE index stagnated near the levels printed a month earlier instead of a small uptick. Most US and European indices ended August at, or near record high levels, as tech-heavy Nasdaq underperformed.
This week, attention shifts to the all-important US jobs data this week – the last one before the Fed is due to start cutting its rates in September. This week’s data, could possibly see stronger-than-expected figures for August, which could further tame the jumbo cut expectations for the Fed and favour the...

Yesterday was could’ve been worse. A more than 6% drop in Nvidia somehow limited the S&P500 gains, but many stocks in the S&P500 gained yesterday after the latest GDP update came in better than expected and pointed that the US economy has grown 3% in the Q2 versus 2.8% printed earlier, while core prices eased more than expected. The US dollar rebounded, and growth, reflation friendly stocks did well.
Among them, the Stoxx 600 came close to a record. The euro weakened on the back of soft German and Spanish inflation update.
In Japan, a mixed bag of data helped...

What are Bitcoin's next steps? Will see a more positive September?

00:00 Intro
00:22 Preview
00:48 Bitcoin
03:41 Ethereum
07:22 Subscribe & Good bye

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Nvidia generated a record $30bn in sales in Q2 – up by 122%, the profits surged 166% to $16.6bn, the company said that they expect to sell $32.5bn in the current quarter (more than $31.9bn expected by analysts) and announced a $50bn share buyback program. It could hardly do better. But investors focused on Blackwell delay & rising competition.
Elsewhere, Super Micro Computer dived another 20% yesterday after announcing that they will delay filing its annual financial disclosures – a day after Hindenburg threw mud on the company saying that they had ‘glaring accounting red flags, evidence of undisclosed related...

The markets were calm yesterday, the European stocks extended gains, while the S&P500 and Nasdaq consolidated a bit lower than their ATH levels. A $69bn sale of US 2-year debt went well, the US 2-year yield extended losses and the US dollar rebounded from the lowest levels of the year. Crude oil, which rallied to its 200-DMA on mounting tensions in Middle East and Libya, failed to break offers at this level and fell nearly 2% as most traders brought the global growth concerns and the sluggish Chinese recovery back on the table. The barrel of US crude eased to...

The week started on mixed feelings. The rising geopolitical tensions in the Middle East, and between the West and China, and a pullback across the big technology stocks casted shadow on the optimism that the Federal Reserve (Fed) is about to start cutting the interest rates in September.
The US yields and the dollar rebounded on Monday. Crude oil jumped on the tense geopolitical environment in the Middle East and on rising tensions within Libya.
In China, the market selloff continues; the CSI 300 index trades at the lowest levels since February. Canada announced that it will impose tariffs of...

‘The time has come for policy to adjust, and the direction of the travel is clear’ said Federal Reserve (Fed) Chair Jerome Powell at his Jackson Hole speech on Friday and kept the door open for large cut bets. US yields and the dollar softened, equities rallied. All eyes are on the US GDP update and the core PCE data, before next week’s all-important jobs report.
Elsewhere, the Eurozone countries will reveal their flash August inflation numbers and any softness in European inflation figures could revive the European Central Bank (ECB) doves and balance out the dovish Fed expectations.
In...

US stock markets sold off yesterday, as investors trimmed their long positions walking into Federal Reserve (Fed) Chair Jerome Powell’s Jackson Hole speech due later today – where he is expected to douse the jumbo rate cut expectations. US yields and the dollar rebounded, equities fell. There is more room for correction as the swap markets still price in 95bp cut from the Fed, and this pricing looks overstretched.
We are all holding our breath into Powell’s speech. What has been a calm week could see a last minute volatility. Powell will probably not show up with a game-changing speech...