A look at the day ahead in U.S. and global markets from Mike Dolan
Wall Street seems to be making a habit of these early month stock plunges, with Tuesday’s tremor a mild aftershock from the brief August quake one month ago.
Morning Bid: Stocks in seasonal sneeze as factories flunk
US500 DAILY CHART – FIBOS
Given how equities are setting the risk tone for the FX market, stocks should continue to be a focus.
The sharp move up, which did not reach its record high, has left little in the way of obvious supports.
This leaves 5500 as a bias setter with FIBO levels being potential supports.
USDCAD DAILY CHART – WAITING FOR THE BOC
USDCAD continues to recover ahead of the BOC decision, where a 25bps rate cut is widely expected.
With little on charts until 1.3738, let’s take a look at retracement levels using our FIBO CALCULATOR
A look at the day ahead in European and global markets from Rae Wee
Markets in Europe are set for a rocky start on Wednesday after Asia stocks were left in a sea of red, as worries over the global growth outlook resurfaced and as the blistering AI rally hit yet another speed
BoC rate decision is the highlight on Wednesday
See detailed previews
DLRx 101.75 / 10-yr 3.846 at 11.12nyt
Concensus says nothing more important this week than Fr’s NFP for market to re-asses FED,s expected rate action on sept 18th which, sofar, have not changed.
In reference to current DLRx’s enthusiasm: puppy s showing a (little) bit of leg and may continue to bounce a little more higher still. But … the dollar is subject to us int rates which, under current market mood, are a counter weight.
12:45nyt – ECB nagel yaks
© 2024 Global View