Limit Up! 10th January 2025
Ian Reynolds
Investing and Trading | Capital Markets | Macroeconomics| Bitcoin & Decentralised Finance | Helping to Find the Money Flow | Commentator | Speaker
Overnight
Markets were super quiet overnight due to a US holiday on Thursday and the Nonfarm Payroll report later on today.
Finally some better news for German manufacturing but clearly the consumer is not going out spending anytime soon.
Breaking
Foreign Exchange
Rates higher and currency lower spells trouble for the UK. Cable is trading like an emerging market currency.
Equities
US markets closed, futures slightly lower
Bonds
US 20 year bond yields hit 5%
Precious Metals
Gold holds strong support
Crypto
Bitcoin continues at act as the canary in the mine for risk assets and it's lower again this morning. Structurally the support at US$91,000 needs to hold or confirmation below could lead to a quick move down to 74k. Everyone knows this. All the talking heads on YouTube know this and want to back up the truck at 74k. Maybe a short squeeze coming.
Economic Indicators Today