Macro: Sandcastle economics
Invest wisely in Q3 2024: Discover SaxoStrats' insights on navigating a stable yet fragile global economy.
Senior Relationship Manager
Good Morning,
Tech remains strong given if slightly off the highs as traders try to decide what focus on next. Yesterday the Dow lost 0.15%, the S&P 500 0.4% and the Nasdaq 0.13%.
The USD Index fell to 103.70 while 10 Year yields are at 4.28. EURUSD is 1.0858 , GBPUSD 1.2690 and USDJPY 150.4 after a higher CPI in Japan.
Gold and Silver are 2033 and 22.60, Bitcoin jumped to 56k.
Headlines are:
Sentiment is a bit tricky to read ahead of the US and EU inflation data on Thursday and Friday but I suggest to remain nimble and open minded.
We have two key articles to digest today by Peter and Kim:
Earnings Watch: Salesforce, Snowflake, and Leonardo
Technical Update - Nvidia: Buyers running out of steam? Or potential to much higher price levels? See here how and why?
Key Data:
Tuesday
- Data Japan CPI, US Durable Goods & Consumer Confidence
- Earnings: Bank of Nova Scotia, Bank of Montreal, Sempra, Constellation Energy, Lowe's, Muenchener Rueck, AutoZone, American Electric Power
Wednesday
- Data Australia CPI, EU Consumer Confiddence, US GDP
- Earnings: Oversea-Chinese Banking, Holcim, Royal Bank of Canada, TJX Cos, Salesforce, Snowake, Monster Beverage, Universal Music, Reckitt Benckiser
Thursday
- Data CH FX Reserves, DE Unemployment Rate, US PCE, Initial Jobless claims
- Earnings: Alimentation, Anheuser-Busch, CRH, NetEase, Dell Technologies, Autodesk, London Stock Exchange Group
Friday
- Data EU HICP International PMI, NO Nonfarm Payroll
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