[Mtl JP]

THIS
“Jeep parent Stellantis announces $13 billion U.S. investment plan” – (not just) cnbc

got canadian politicians, union types and various libtards hair on fire and finally come to jesus as, collectively, come around some to understand what lutnick said earlier, namely that President Trump wants car manufacturing in the US.

Canada exported almost two million vehicules to the US last year.

[GVI Forex 2]

Searching for news why stocks have reversed lower. Only headline I have seen is this one, which may be weighing on Nvidia and dragging stocks lower.

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[Mtl JP]

still on deck today
–
13:00 – waller on A/I
14:00 – Beige Book
14:00 – guindos yaks
14:30 – schmid yaks at some townhall

[GVI Forex 2]

NAS100 (NASDAQ) 25000 looms again

• Pivotal 25000 level proving to be an obstacle, leaving NAS100 consolidating in its broad range. .24516 needs to hold to keep the fous on 25000

US500 1 HOUR CHART

[GVI Forex 2]

US500 (SP500): Wide range

Price action consistent rrange trading as only  a break of the record 6768 high would take it out of its range, suggesting a consolidation range with a bid while above 6625-50.

US500 1 HOUR CHART

[Mtl JP]

when will it hurt grasshopper ?

Shutdown is costing US economy $15 billion a day, Bessent says – rtrs

Bessent says shutdown is cutting “into muscle” of US economy
– US Treasury chief says deficit was lower in fiscal 2025
– Bessent says tech, investment boom is sustainable
Washington, Oct 15 (Reuters) – The two-week-old federal government shutdown is costing the U.S. economy about $15 billion a day in lost output, Treasury Secretary Scott Bessent said on Wednesday …

[Mtl JP]

a bit complicated for my paygrade so fwiw and fyi

Markets relieved, but France’s fiscal fire still burns – rtrs

Is the non-conf vote still on tomorrow (Thursday)?

[Mtl JP]

EURO 1.1631
currently this puppy appears to be like an emotionally troubled girlfriend

50day caps; would likely need to pop over to gain favor

[Mtl JP]

the flavor is …
that DX 99.50 is likely the top

and 98.70 first support altho, imo, weak.
lower is likely likely, again imo

[GVI Forex 2]

XAUUSD (GOLD) A critical level for GOLD

This is a critical time for the runaway train mega uptrend as 4200 is one of those key pivotal levels that can either indicate a pause (if below it) or open the door for higher if it becomes solid support.

XAUUSD 1 HOUR CHART[JM1]

[GVI Forex 2]

XAUUSD (GOLD) A critical level for GOLD

This is a critical time for the runaway train mega uptrend as 4200 is one of those key pivotal levels that can either indicate a pause (if below it) or open the door for higher if it becomes solid support.

XAUUSD 1 HOUR CHART[JM1]

[GVI Forex 2]

I call it identifying the flavor (flow) of the day:

EURGBP sell order (last 8697)… market having more trouble absorbing the GBP buyiung than EUR selliing in tug-of-war trading.

Price action suggests real money sell order.

[GVI Forex 2]

NAS100 (NASDAQ) 25000 looms again

• Like US500, building momentum off a higher low (24235) but still in its range (but with a bid) while below the 25205 record high.
• Immediate obstacle is 25000, exposed while above 24872.

US500 4 HOUR CHART

[GVI Forex 2]

For FX traders:

EURGBP 8713 =-> 8705  (addendum: traded to 8701)

EURUSD 1.1631 => 1.1522

GBPUSD trading with a bid

How You Can Use Currency Crosses to Trade Spot Forex

[GVI Forex 2]

Newsquawk Stock Specifics

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[GVI Forex 2]

Newsquawk Stock Market Earnings Update

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[GVI Forex 2]

US500 (SP500): Trying to build momentum

• Building on higher low but only a break of the record 6768 high would take it out of its range.
• This suggests a consolidation range with a better bid while above 6625.

US500 4 HOUR CHART

[GVI Forex 2]

For FX traders, the pop in EURGBP is behind the pop in EURUSD and dip in GBPUSD. Market had more trouble absorbing the EUR buying.

EURGBP 15 MINUTE CHART

[GVI Forex 2]

Newsquawk Daily US Equity Opening News

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[GVI Forex 2]

GBPUSD; Recovery faces resistance

• Sell-off on the UK jobs report yesterday did not last long
• Above `1,3352 broke momentum to downside but would need a firm move above 1.3370 (high 1.,3373) to suggest more scope to the recovery
• Even then there are layers of resistance above the market.
• Intra-day supports: 1.3335, 1.3314

‘GBPUSD 4 HOUR CHART

[GVI Forex 2]

Finally some data (not top tier) … and a beat

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[GVI Forex 2]

EURUSD turned more defensive below 1.1631 but so far holding above 1.1616, needing to hold to keep a bid and thoughts away from 1.1600

EWURUSD 15 MINUTE CHART

[GVI Forex 2]

MS beats

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[ST London]

Gold is back to $4200

Is it time for a time out?

[Mtl JP]

A Series Of Rate Cuts

Dollar’s struggles deepen as traders focus on Fed cut bets
By Kevin Buckland on Rtrs

– Fed’s Powell says US shutdown has not yet clouded economic picture
– Markets pricing in Fed rate cuts for both October and December
– Beijing sets strongest yuan fix in 11 months despite trade spat

TOKYO, Oct 15 (Reuters) – The U.S. dollar dropped against a basket of peers on Wednesday after comments from Federal Reserve Chair Jerome Powell bolstered bets on a series of rate cuts in coming months.

[Mtl JP]

What is a bloke like me to make -trade-wise – of these two headlines
–
“China’s Communist Party meets for its next five-year plan as U.S. rivalry deepens” cnbc

Deflationary pressures persist in China on weak demand, overcapacity – rtrs
Deflationary pressures persisted in China, with both consumer and producer prices falling in September, supporting the case for more policy measures as a prolonged property market slump and trade tensions weigh on confidence.

[GVI Forex 2]

Newsquawk Daily US Opening News

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[Mtl JP]

legts call it “reform” shall we

“Tax rises and spending cuts in the cards, UK finance minister hints”
– cnbc

[GVI Forex 2]

EURUSD What a difference a day can make

• At this time yesterday I was talking about the importance of the 1.1550 level (and a limited USD upside ahead of Powell’s speech) and now resistance just below 1.1650 (1.1648) is the technical focus.
• Why 1,1648? To fully negate a lingering downside risk, 1.1648 needs to be taken out
• Support: 1.1631, former resistance (stops run overnight) so far not holding as support, potential to be as pivot.
• Below 1.1631, intra-day momentum is still up while above 1.1616. Fallback support is at 1.1600.

EURUSD 4 HOUR CHART

[GVI Forex 2]

XAUUSD. Why 4200 is important

Pattern repeats:

• Sharp but short-lived retracements followed by new record highs. Yesterday;s 4189 => 4090 retracxement didn’t even last a day

Unchartered waters:

• When in uncharted record high waters “big figures (round numbers), such as 4000, 4100, 4200 etc increase in importance in the absence of any historic resistance on charts.
• But not all big figures should be treated the same (e.g. 4200 is more significant than 4100 or 4300).
• So pay attention to the new record high above 4200, now the pivotal level – above it targets 4350 with the next pivotal big figures at 4500 while below slows this runaway’s train.
• Intra-day support starts at 5180-5200

[Author]

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