Rise and shine Traderade family.
We had quite the bear market bounce yesterday with the Dow soaring over 750 points. The SPX and Nasdaq both rallied close to 3% before pulling back slightly into the close.
There were signs everywhere that we may get this pop, as Mayhem wrote in his article on our Feed - Setting up for a short-term pop?
Asia and Australia
Australia’s RBA is the first Central Bank to pivot to lower rate hikes at 25bps
North Korea fires a missile over Japan
Japan’s core consumer prices, a leading indicator of nationwide inflation, rose 2.8% in September.
Europe, Middle East, Africa
The big news still remains the speculation over OPEC’s oil production cut.
The GBP continues to gain strength with Asian trading, after the news of the U-turn on tax cuts.
The military coup in Burkina Faso could threaten gold exports. The country is the 3rd largest exporter in Africa and 12th largest in the world exporting 102 tonnes of gold in 2021.
The Americas
We have JOLTs data coming out today.
The US dollar index $DXY is still seeing pressure to the downside falling below 111 for the first time in 2 weeks.
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