Podcasts about xau

Sentiment bolstered after US President Trump announced a ceasefire agreement between Iran and Israel, effective 05:00 BST / 00:00 EDT.Though Israel claimed Iran had launched ballistic missiles and violated the agreement, which Iran has denied.USD softer as geopolitical premium recedes, attention now turns to Fed Chair Powell who testifies before the House.Bonds hold a bearish bias given latest Iran-Israel ceasefire; USTs are lower by a handful of ticks whilst Bunds are hit on updates via the German Finance Ministry.Crude clipped by the ceasefire, XAU loses its shine, base metals find a floor.Looking ahead, Canadian Inflation, US Consumer Confidence, NZ Trade, NATO Summit, NBH Policy Announcement, BoE's Bailey, Ramsden, Pill, Breeden; ECB's Lagarde, de Guindos, Lane; Fed's Powell, Hammack, Williams, Collins, Barr, Supply from the US, Earnings from FedEx, Carnival.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

Firing between Israel and Iran continued overnight. Iran used a hypersonic missile, while no attacks were seen from the US. Risk recovered and oil waned off highs.US officials signalled that the next 24 to 48 hours would be critical in determining whether a diplomatic solution with Iran is possible -- or if the president might resort to military action instead, according to ABC.European bourses tread water amid geopolitical updates and the looming FOMC rate decision; US equity futures are modestly higher.USD gives back some of Tuesday's gains; Antipodeans lead whilst the CHF underperforms.Gilts initially pressured after CPI. More recently, modest bid into the green awaiting rhetoric from Iran's Supreme Leader.Crude softer as traders await updates from the US; XAU also on the backfoot.Looking ahead, US Building Permits, Housing Starts, Jobless Claims, Fed & BCB Policy Announcements, speakers include ECB's Nagel, Elderson, Lane, de Guindos, BoC's Macklem; Fed Chair Powell.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

Israel conducted pre-emptive strikes on Iranian nuclear and military targets; Iran warned that Israel and the US will pay a heavy price.Iran's President to speak on the subject soon; US President Trump urged Iran to "make a deal, before there is nothing left".Geopolitics driving all price action with crude posting significant gains & equities under pressure; ES -1.2%, Euro Stoxx 50 -1.4%FTQ ensued overnight, supporting fixed income and XAU; gold remains near best, but fixed has pulled back to Thursday's parameters.DXY on the front foot, but shy of Thursday's high, as the USD benefits from its haven status. JPY surprisingly softer vs USD. EUR and GBP both hit, antipodeans lag.Looking ahead, highlights include UoM Sentiment (Prelim), S&P to Review Germany's Credit Rating, Speakers including ECB's Panetta & Elderson. Click for the Newsquawk Week Ahead.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

US President Trump said at a certain point, they will send letters out for countries to take or leave and will send those letters out in a week and a half.Geopolitics is driving newsflow as Iran was judged to have violated IAEA rules. An update which has sparked increasingly escalatory rhetoric.Given the above, equities are in the red with the DXY pressured and havens leading FX while EUR/USD hits a new YTD peak and XAU climbs.Crude pressured despite the above, given the gains seen on Tuesday, Trump's tariff rhetoric, ongoing OPEC+ action and the lack of specificity on what the Iranian response will be.EGBs benefiting from the risk tone, Gilts outperform after soft GDP. USTs in-fitting but with magnitudes more contained into data.Air India flight AI171 to the UK from Ahmedabad, India crashed outside the airport after takeoff. Craft was a Boeing (BA) 787-8 Dreamliner; Boeing lower by as much as 8% in pre-market trade.Looking ahead, highlights include US Initial Jobless Claims & PPI, ECB's de Guindos & Elderson, Supply from the US, Earnings from Adobe & Carnival.Click for the Newsquawk Week Ahead.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

US Commerce Secretary Lutnick said they have reached a framework to implement the Geneva consensus; will return to the US to see if Trump approves.Chinese Vice Commerce Minister Li Chenggang said the two sides reached a consensus regarding the Geneva meeting; will report on the framework to leaders.European bourses are firmer this morning, though with Retail lagging; Stateside, futures are just into the red into CPI.DXY choppy but contained within Tuesday's parameters so far. Fixed benchmarks pressured into CPI, Gilts lag.Crude has seen notable two-way action on reporting around Iran. XAU edges higher, base metals mixed. Looking ahead, highlights include US CPI & Weekly Earnings, UK Spending Review, Speakers including ECB's Cipollone, Supply from the US, Earnings from Oracle.Click for the Newsquawk Week Ahead.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

US-China talks in London have commenced.US Commerce Secretary Lutnick says discussions with China are "going well"; talks to continue all day Tuesday.European stocks move lower ahead of US-China talks, FTSE 100 bid post-jobs data.GBP lags after jobs data which saw a slump in HMRC Payrolls and a further cooling in average earnings, USD ekes out mild gains.Gilts outperform as the UK labour market cools, USTs await US-China day two and 3yr supply.Crude is incrementally firmer, with XAU also modestly in the green.Looking ahead, US NFIB Business Optimism, EIA STEO, US-China Talks in London, Supply from the US.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

Stocks are broadly in positive territory; US equity futures are modestly higher ES +0.3%.USD on the backfoot but only marginally so, EUR & GBP pivot 1.12 & 1.33 vs the USD.Bonds are firmer but are currently set to end a tumultuous week back where they started.Crude is awaiting geopolitical updates from numerous regions/conflicts, XAU dips.Looking ahead, US Export/Import Prices, UoM Sentiment Survey, BoC SLOS, Speakers including ECB's Lane, Cipollone & Fed's Barkin.Click for the Newsquawk Week Ahead.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

White House Executive Order said US will cut the minimum tariff on China shipments from 120% to 54%, and a minimum flat fee of USD 100 is to remain.European bourses are modestly firmer while US futures dip into the red. Focus this morning has been on Bloomberg reporting, which suggests China is to lift its ban on Boeing deliveries after the US-China tariff pause.DXY takes a breather to the benefit of other G10s; Antipodeans lead.EGBs and Gilts hit marginal new WTD lows, USTs await CPI & Trump.A subdued Dollar provides some modest strength for XAU/base metals.Looking ahead, US CPI, Speakers including BoE's Bailey & ECB's Rehn.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

US and China agree to bring down reciprocal tariffs by 115ppts for 90 days, sparking immediate risk on price action; DXY, ES, Crude bid; XAU & Fixed hit.US President Trump said he will sign an executive order on Monday at 09:00EDT with prescription drug and pharmaceutical prices to be reduced almost immediately by 30%-80% and the US is to pay the same price as the nation that pays the lowest price anywhere in the world."Ukraine and European leaders said they agreed to an unconditional 30-day ceasefire on sea, land and air starting on May 12th and peace negotiations will start in that period if there is a ceasefire, while they said if Russia fails to comply, they will respond with massive sanctions and increased military aid.Stocks surge on US-Sino joint announcement, but pharmaceuticals hit by Trump.DXY and CNY surge on US-China trade; haven assets such as Bonds/JPY are in the red.Industrial commodities boosted by US-China updates; Spot gold slumps amid haven outflowLooking ahead, US Federal Budget, Speakers including BoE's Greene, Mann, Taylor & Fed's Kugler.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

China is said to be conducting an assessment on US trade negotiations and urged the US to demonstrate sincerity for trade talks, while it urged the US to correct mistakes regarding tariffs and noted it is currently evaluating possible US trade talks.US Secretary of State Rubio said the Chinese want to meet and talk, while he added those talks will come up soon and there's a broader question about how much we should buy from China going forwardJapanese Finance Minister Kato said Japan's huge US Treasury holdings are among the tools it can wield in trade negotiations with the US but added that whether Japan wields that card is a different question.European bourses are entirely in the green as the region returns from holiday; US equity futures gain, AMZN -2% & AAPL -2.7% pre-market.USD's recovery pauses for breath as markets brace for NFP, AUD outperforms.Gilts outperform, EGBs largely unaffected by HICP, USTs digest trade updates & Kato's remarks into NFP.Crude is on the backfoot, whilst XAU and base metals benefit from the softer Dollar.Looking ahead, US NFP & Durable Goods, Earnings from Exxon Mobil, Chevron, Apollo, Brookfield.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

Europe on holiday, US equity futures entirely in the green with sentiment boosted after strong META/MSFT results.DXY is a little firmer ahead of US data, JPY hit post-BoJ/Ueda.JGBs lead post BoJ/Ueda, USTs await Tier 1 data points.Crude continues to decline, XAU hit by the USD while base peers welcome the US tone post-Mag7.Looking ahead, US Challenger Layoffs, Jobless Claims & ISM Manufacturing.Earnings from Amazon, Apple, Riot Platforms, Reddit, Airbnb, Eli Lilly, Roblox, CVS, MasterCard, McDonald's.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

China is said to consider exempting some US goods from tariffs as costs increase with Chinese authorities considering removing additional levies for medical equipment and some industrial chemicals like ethane, according to Bloomberg citing sources familiar with the matter.China's Foreign Ministry says it is not having any consultations or negotiations with the US on tariffs; on tariff exemptions, says not familiar with specifics.European bourses edge higher on positive Chinese trade reports; US futures mixed, GOOGL +5.5% pre-market after strong Q1 results.DXY recovers amid trade hopes, JPY weakens amid outflows from haven FX and despite hotter Tokyo CPI.Bonds trade rangebound as participants await further tariff updates.Crude modestly firmer, XAU slips given the positive risk tone and stronger USD.Looking ahead, BoE's Greene, ECB's Nagel, Rehn & Cipollone, Earnings from, SLB, AbbVie, Phillips 66 & Centene.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

Fed Chair Powell reaffirmed a wait-and-see approach and suggested incredibly high uncertaintyUS President Trump said "Big Progress!" was made with Japan on tradeAPAC shrugged off the negative Wall St. handover, but gains were capped with drivers limitedDXY found reprieve from recent pressure but remains below 100.00, USD/JPY hit a seven-month low but has since rebounded back above 142.00USTs & JGBs soft while Bunds lacked firm direction; French supply aheadCrude extended on Wednesday's strength, XAU pulled back from fresh record highs, base metals choppyLooking ahead, highlights include German Producer Prices, US Jobless Claims, Philly Fed Index, ECB & CBRT Policy Announcements, Speakers including ECB President Lagarde, Fed's Barr & Williams, Supply from France. Earnings from TSMC, UnitedHealth, American Express, DR Horton, Netflix, Sainsbury's, Rentokil & L'OrealClick for the Newsquawk Week Ahead.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

US bourses finished mixed with futures thereafter pressured after NVIDIA flagged 5.5bln of charges.White House said over 15 trade deal proposals are being considered and some could be announced soon.DXY gave back some of Tuesday's strength, EUR/USD back above 1.13 and Cable above 1.3250 into UK CPI.USTs paused for breath after gains sparked by Treasury officials, Bunds rebounded and JGBs retested 141.00Crude benchmarks lackluster, XAU hit another record high while base peers followed the risk tone lowerLooking ahead, highlights include UK CPI, US Retail Sales, NZ CPI, BoC Policy Announcement, Speakers including Fed's Powell, Cook, Hammack, Logan & Schmid, BoC's Macklem & Rogers, Supply from Germany & US.Earnings from Heineken, US Bancorp, Abbott, Progressive, Travelers, Prologis, Autliv, Citizens, First Horizon, Alcoa, Barratt Redrow, Moncler, Brunello Cucinelli & Lindt.Click for the Newsquawk Week Ahead.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

US Commerce Secretary Lutnick said there is no postponing tariffs and April 9th tariffs are coming; tariffs are going to stay in place for days and weeks.US NEC Director Hassett said more than 50 countries have reached out to the White House to begin trade negotiations.Stocks continue to sink as risk-off sentiment continues, reports that China is mulling accelerating stimulus measures fails to life the complex; NQ -4%.Havens lead, activity currencies lag as the Trump trade agenda continues to dominate.EGBs & USTs climb as Central Bank easing bets increase on stagflation/recession concerns.Crude continues to sink, XAU/copper incrementally lower.Looking ahead, US Employment Trends & President Trump.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

US President Trump is said to be pushing senior advisers to go bigger on tariff policy as they prepare for ‘Liberation Day' on April 2nd; reportedly revived the idea of a flat universal tariff single rate on most imports.European bourses and US futures in the red given the above and into month & quarter end, Euro Stoxx 50 -1.5%, ES -1.0%; NQ -1.3% with NVDA pressured.DXY has been on either side of the unchanged mark throughout the morning, EUR and GBP flat/slightly softer while USD/JPY hit a 148.71 low as the Nikkei 225 entered correction territory.Fixed benchmarks bid on the broad risk tone, German State CPIs sparked a fleeing move lower into the mainland figure, JGBs slipped as the BoJ cut its bond purchase amounts.Crude firmer as geopolitical tensions outweigh the macro tone following reports around Trump on Iran, XAU at a fresh record high, base metals dented.US President Trump threatened to bomb Iran if a nuclear deal can't be reached, while he also warned of secondary tariffs on Russian oil.Looking ahead, highlights include US Chicago PMI & Trump's executive orders.Note: UK clocks changed from GMT to BST on Sunday which means the London to New York time gap returned to five hours.Click for the Newsquawk Week Ahead.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

The US is to impose 25% tariffs on all cars made outside of the US effective on April 2ndTrump reiterated that reciprocal tariffs are also set for next week but stated they will be lenientUpdates which weigh on European equities with Auto names lagging, US futures mixed/firmerDXY mixed with GBP outperforming in an attempted recovery from Wednesday's action while JPY lagsEGBs and USTs diverge as they focus on growth and inflationary implications of the latest rhetoric respectivelyCrude benchmarks lower, TTF choppy, XAU gains and base metals slipLooking ahead, highlights include US GDP & PCE Final (Q4), Jobless Claims, Japanese Tokyo CPI, Banxico Policy Announcement, Speakers including BoEʼs Dhingra, Fedʼs Collins & Barkin, ECBʼs Schnabel, de Guindos & Lagarde, Supply from the USClick for the Newsquawk Week Ahead.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

US President Trump said he has April 2nd tariffs set. Separately, reports that copper tariffs could be implemented in weeks.US stocks were mixed, European futures point to a mildly positive open. APAC trade mostly firmer but capped.DXY posts marginal gains, EUR/USD sub-1.08, USD/JPY gradually rebounded while AUD briefly slipped on CPI.USTs continue to pull back from Tuesday's best, Bunds subdued but off post-Ifo lows.Crude mildly underpinned, copper jumped on the tariff reports but is off best, XAU range bound.Looking ahead, highlights include UK CPI, US Durable Goods, BoC & Riksbank Minutes, UK Spring Statement, Speakers including Fed's Musalem, Kashkari & ECB's Cipollone from Italy, Germany & US, Earnings from Porsche SE & Dollar Tree.Click for the Newsquawk Week Ahead.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

Fed maintained rates & dots, cut growth & lifted inflation projections. To slow the balance sheet runoff. Powell emphasized uncertainty, a wait-and-see approach.Trump posted "The Fed would be MUCH better off CUTTING RATES as U.S.Tariffs start to transition... into the economy"APAC stocks mixed, US futures saw a dovish reaction to the FOMCDXY pulled back, EUR/USD & GBP/USD briefly above 1.09 and 1.30 respectivelyFixed income bid post-FOMC though further gains were somewhat capped given the Tokyo holidayCrude firmer following the risk tone and factoring some geopolitical updates while XAU hit a new USD 3057/oz record highLooking ahead, highlights include US Philly Fed Index, Jobless Claims, Japanese CPI, German Producer Prices, BoE, SNB, Riksbank & SARB Policy Announcements, Speakers including ECB's Lagarde & Lane, SNB's Schlegel, Riksbank's Thedeen, BoC's Macklem & BoE's Bailey. Supply from Spain, France & US, Earnings from PDD, Jabil, Accenture, Micron, Nike, FedEx, RWE & Lanxess.Click for the Newsquawk Week Ahead.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

In this podcast episode of Palisades Gold Radio, your host Tom Bodrovics welcomes back Michael Oliver from Momentum Structural Analysis. A length discussion on the outlook for silver and gold, stock market trends, and broader economic factors ensues. Oliver explains his $250 target for silver as realistic, noting historical precedents where silver outperformed gold during bull markets. He highlights the spread between silver and gold, emphasizing that silver could reach 2% of gold's price, a significant move from its current level of around 1.13%. This would translate to a substantial increase in silver prices if gold rises significantly. Oliver believes gold will lead the way up but notes silver and gold miners may outperform due to their lower valuations relative to gold. He shows charts indicating gold's strength against the S&P 500, with gold currently at about 45% of the index compared to a peak of 60%. Gold's momentum remains strong despite minor pullbacks. Oliver warns that the stock market bubble is set to burst. He expects asset managers to shift funds into gold and related assets as the market weakens. The gold miners index (XAU) is undervalued compared to gold, suggesting significant potential gains once investors begin to reallocate capital. Oliver discusses the dollar's potential decline, noting a critical momentum level that could signal a broader downtrend. A weaker dollar would likely boost commodities and gold, though he cautions against tying this directly to political factors like Trump's policies. Reflecting on his book on anarcho-capitalism, Oliver suggests a shift away from statism toward market-driven solutions. He speculates that events like the stock market crash could catalyze significant policy changes, including tax reforms or central bank abolition. Time Stamp References:0:00 - Introduction0:34 - Silver & Targets6:25 - Flight To Gold vs S&P9:33 - Gold Weekly Momentum12:17 - Equities & Bubbles16:18 - The Decline Grind?18:18 - XAU & Miners24:06 - Equity Selloff & Metals27:16 - Dollar Effects & Momentum33:30 - WTI Crude & Economic Reality38:25 - Cuts & Changes in Nations44:40 - Pain Points as Catalysts?48:18 - Large Long-Term Trends51:10 - DOGE & Ayn Rand54:06 - Wrap Up Guest Links:Website: http://www.olivermsa.com/Twitter: https://twitter.com/Oliver_MSAAmazon Book: https://tinyurl.com/y2roa7p5Free Report email: michaeloliver@olivermsa.com Email MSA above, and they will send you this week's report for free, which covers many of the topics from this interview. J. Michael Oliver entered the financial services industry in 1975 on the Futures side, joining E.F. Hutton's International Commodity Division, headquartered in New York City's Battery Park. He studied under David Johnston, head of Hutton's Commodity Division and Chairman of the COMEX. In the 1980s, Mike began to develop his proprietary momentum-based method of technical analysis. He learned early on that orthodox price chart technical analysis left many unanswered questions and too often deceived those who trusted in price chart breakouts, support/resistance, and so forth. In 1987 Mike technically anticipated and caught the Crash. It was then that he decided to develop his structural momentum tools into a full analytic methodology. In 1992, the Financial VP and head of Wachovia Bank's Trust Department asked Mike to provide soft dollar research to Wachovia. Within a year, Mike shifted from brokerage to full-time technical analysis. He is also the author of The New Libertarianism: Anarcho-Capitalism.

European bourses are mixed; US futures are firmer attempting to consolidate following the prior day's hefty losses.DXY hits a fresh YTD low as EUR/USD reclaimed 1.09 on German defence spending optimism.USTs hold near unchanged while Bunds slump on the latest fiscal updates.Commodities broadly supported by a diving Dollar; XAU back above USD 2.9k.Looking ahead, US JOLTS, EIA STEO Speakers including ECB's Lagarde, de Guindos, Lane, Villeroy & Escriva, Supply from the US.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

European bourses are mostly lower, Autos benefit following tariff reprieve; US futures in the red with NQ underperforming.DXY remains on the backfoot, EUR underpinned by stimulus hopes as attention turns to ECB.Bunds continue to slump on the latest fiscal reports pre-ECB, USTs await data.Crude attempts to claw back recent pressure, XAU sits around USD 2.9k/oz.Looking ahead, US Initial Jobless Claims, Atlanta Fed GDPnow, Canadian Exports/Imports, ECB Policy Announcement, Special European Council regarding Ukraine and EU Defence, Speakers including ECB President Lagarde, Fed's Waller, Bostic & Harker.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

US futures gained after the Wall St. close as Lutnick suggested Trump could potentially reduce tariffs on Canada and Mexico, perhaps as soon as Wednesday.APAC mixed but with strength in China after data and the Official Growth Report which maintained a growth target of around 5% and pledged measures to boost spending.EUR underpinned by German debt brake reform with the DXY under pressure as a result, Cable hit a YTD peak while NZD was unreactive to Orr resigning.Bunds weighed on by CDU's Merz saying the first results on debt brake reform have been reached with the SPD alongside proposing new instruments and defence exemptions.Fed's Williams said he does not see the need to change policy currently, and described it as "still restrictive" and with the right balance; highlighted UoM inflation data as one to watch.Crude subdued, XAU range bound and Copper gained on China's report; Trump said he received a letter from Zelensky who is ready to come back to the table.Looking ahead, highlights include Swiss CPI, US ADP National Employment, US Factory Orders, ISM Services, China NPC, Fed's Beige Book, BoE Treasury Select Hearing, Speakers including BoE's Bailey, Pill, Taylor and Greene, Supply from UK, Earnings from Telecom Italia, Bayer, Adidas, Sandoz, Abercrombie & Fitch, Foot Locker & Marvell.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

Canada said it will impose retaliatory tariffs on US imports from Tuesday. China announced additional tariffs of up to 15% on some US goods from March 10th.European bourses hit as the region reacts to the latest Trump tariffs; US futures modestly lower.USD remains on the backfoot, EUR digests defence spending pledges, havens firmer.Bonds bolstered by growth concerns and tariff updates despite pressure from block trades & EU spending.Crude pressured continuing Monday's bearish bias, XAU shines on tariff updates & growth concerns.Looking ahead, US RCM/TIPP Economic Optimism, US President Trump's State of Union Address, Speakers including RBA's Hauser & Fed's Williams. Earnings from Target, Best Buy, AutoZone & CrowdStrike.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

Michael Oliver, CEO and founder of Momentum Structural Analysis, joins me to share how he sees the technical momentum setup in gold, silver, US general equities, precious metals stocks via the XAU index, the US dollar, bonds / interest rates, and commodities.   We start off getting his technical outlook on gold and silver; where Michael postulates that when the US general equities really start to roll over, that a portion of investors will rotate funds into gold, silver, and the PM equities.  In addition to remaining constructive on gold, where dips should be bought, Michael points out that the setup in silver and the precious metals equities are setting up to make a bigger breakout versus gold, and he is also keeping a close eye on the gold to silver ratio.   We then shifted over to the nuances and difference in what the pricing chart in the S&P 500 or Nasdaq was showing versus the picture shaping up in them momentum framework. Michael is anticipating a correction and cooling off in US general equities, but notes it doesn't need to be a sudden crash, but really more of a protracted bear market in US equities.  Despite this future bearish backdrop for US equities, he still sees the pathway forward where gold and silver equities can attract a bid, from money rotating out of stocks into the precious metals complex overall due to rising underlying metals prices. He points to periods of times in late 1970s where we had a similar setup of market forces, and points out the XAU index has been both outperforming the US equities and even Gold for some time, even if GDX hasn't quite performed as well.   We then move into his analysis of the US dollar and trends in interest rates and bonds.  He points to the potential to see bonds get a short to medium term bid along with gold as safe havens outside of the general equities, for investors want to diversify some exposure into these asset classes, but that longer-term he still remains bearish on the larger pattern playing out in bonds.   Wrapping up we take a look at the commodities sector through the lens of the Bloomberg commodities index, noting the commodities haven't tracked with gold thus far, but that may about to be ready to change where commodities pick up some of the money rotation bid as well. In particular, Michael is constructive on the soft commodities and grains complex, as well as fertilizers, farmland, and related agricultural sectors.  He believes that a second major leg higher in commodities complex is setting up.   Click here to follow along with Michael Oliver's work

European stocks tumble post-FOMC, MU -15% pre-market weighing on chip peers in Europe; US futures attempting to recoup yesterday's losses.USD gives back some of yesterday's post-FOMC gains, JPY hit after BoJ Governor Ueda's press conference.US yield curve steepens, JGBs outperform post-Ueda, Gilts lag pre-BoE.Crude lifts incrementally off Wednesday's lows, XAU fares better as the USD pauses for breath.Looking ahead, US Jobless Claims, Philly Fed Index, NZ Trade Balance, Japanese CPI, BoE, CNB, Banxico Policy Announcements, Earnings from Accenture, Cintas, Conagra Brands, Nike, FedEx, BlackBerry.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

European bourses are mostly trading in positive territory; US futures tilt higher ahead of Powell and a busy data slate.USD is broadly firmer vs. peers, AUD lags post-GDP, and GBP was weighed on by commentary from BoE's Bailey who said he sees four 25bps cuts in 2025; a move which has since pared.European paper awaits French no confidence vote at 15:00 GMT.Crude holds an upward bias, WSJ reports that Saudi aims to keep oil prices elevated rather than chase market share; XAU/base metals are subdued amid the slightly firmer dollar.Looking ahead, highlights include US ADP, ISM Services PMI & Factory Orders, Fed Discount Rate Minutes, French Government No Confidence Motion, Speakers include ECB's Lagarde, Fed's Powell & Musalem.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

European bourses began the session in negative territory, but sentiment quickly improved to show a mostly positive picture in Europe; US futures modestly lower.Dollar is propped up by further Trump tariff threats, EUR dragged by political uncertainty and tests 1.05 to the downside.OATs in focus as the French gov't awaits Le Pen's decision; USTs are slightly lower ahead of US ISM Manufacturing PMIs.WTI & Brent are on a firmer footing following better-than-expected Chinese PMIs, XAU/base metals pressured by the firmer Dollar.Looking ahead, US S&P manufacturing PMI, ISM Manuf. PMI & Construction Spending, Speakers including Fed's Williams, Waller.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

European bourses & US futures begin the week on the front-foot, as markets welcome the nomination of Scott Bessent as Trump's Treasury Secretary.USD pressured and USTs bid following this, with the DXY sub-107.00 and the US yield curve bull-flatteningFX peers generally benefit from the USD pressure, JPY outperformed overnight on favourable yield action and approval of Japanese stimulusCrude in the red on Bessent, Israel-Lebanon and Iranian updates, Gas outperforms. XAU slipped below USD 2700/oz before recovering while base metals follow the tone though China performance cappedLooking ahead, highlights include ECB's Lane & Makhlouf, Supply from the US. Earnings from Bath & Body Works, AutoZone & ZoomClick for the Newsquawk Week Ahead.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

Equities began the session on a firmer footing but now reside in negative territory after dismal EZ PMI metrics.USD firmer and ultimately benefiting from poor EZ PMIs which forced EUR/USD briefly onto a 1.03 handle. Sterling hit on its own data and Retail Sales beforehand.Bonds soar in reaction to dire EZ PMIs which have boosted the odds of a 50bps ECB cut.Crude is slightly firmer, XAU bid and base metals hit by sentiment.Looking ahead, US Flash PMIs. Speakers including ECB's Nagel, Villeroy & Schnabel, SNB's Schlegel & Fed's Bowman.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

Equities generally modestly lower; NVDA -3% pre-market despite headline beats as Q4 guidance disappoints.Ukraine's airforce announced that Russia launched an ICBM, Ukrainian media specified it was a RS-26 missile; however, CNN reports that ICBM usage has not been confirmed.Dollar is slightly firmer, JPY outperforms benefiting from the risk-aversion triggered by tensions between Russia and Ukraine.Bonds are benefiting from the geopolitical risk-premia into numerous central bank speakers.Crude is firmer and resides just off session highs, gas outperforms & XAU bid whilst base metals are dented by the risk tone.Looking ahead, US Jobless Claims, Philly Fed Index, US Existing Home Sales, SARB Policy Announcement, Speakers including ECB's Patsalides, Lane, Elderson & Holzmann, Fed's Hammack, Goolsbee & Barr, SNB's Tschudin & Moser, BoE's Mann, Earnings from Deere, Gap & Intuit.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

Equities are entirely in the green as sentiment improves; NVDA earnings due after-hours.Dollar is back on a firmer footing, JPY underperforms and gives back the prior day's haven-induced strength.Bonds are on the backfoot, and with clear underperformance in Gilts after the region's hotter than expected CPI figures.Crude is incrementally firmer, XAU edges lower and base metals benefit from the risk tone.Looking ahead, ECB President Lagarde, de Guindos, BoE's Ramsden, Fed's Barr, Cook, Bowman & Collins, Supply from the US. Earnings from NVIDIA, Snowflake, Palo Alto, NIO, TJX, Williams-Sonoma.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

Equities are entirely in the red with sentiment hit following remarks by Russia's Kremlin, which said "Russia reserves the right to use nuclear weapons in an event of aggression".Dollar is firmer vs most peers, but weaker against the JPY which caught a bid owing to its safe-haven status.Bonds have soared to session highs following comments by the Russian Kremlin that it could respond to aggression in a nuclear manner.Crude is on the backfoot, XAU bid given the risk-off environment.Looking ahead, Canadian CPI, US Building Permits, NBH Policy Announcement, Comments from Fed's Schmid, Earnings from Walmart, Lowe's & Medtronic.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

European bourses are generally on the backfoot, US futures are mixed.Dollar is incrementally lower, JPY underperforms after BoJ Governor Ueda continued to signal a lack of urgency to hike rates.USTs are marginally lower whilst Bunds extend losses and slips below 132.00.WTI & Brent are firmer in what has been a choppy session, XAU eyes USD 2.6k to the upside.Looking ahead, ECB's Lagarde, Lane & Fed's Goolsbee.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

European bourses are mixed vs initially opening entirely in the red; US futures sit in negative territory.DXY is on the backfoot and holds around 106.50, JPY outperforms.USTs are under pressure in a continuation of the price action seen following a hawkish-leaning Powell; Gilts bid after the UK's downbeat GDP metrics.Crude is in the red, XAU is flat, whilst base metals hold a positive bias alongside the pullback in the Dollar.Looking ahead, US Retail Sales, Capacity Utilisation, BoC SLOS, Speakers including ECB's Lane & Cipollone, Panetta, Fed's Goolsbee, Collins & Williams, Barkin, Earnings from Alibaba.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

Equities are on the backfoot; the RTY underperforms, paring some of the Trump-induced strength in the prior session.Dollar continues to advance higher, GBP on the backfoot following mixed jobs data which saw an uptick in unemployment but wages remain sticky.Bonds are mixed, USTs are flat ahead of several Fed speakers whilst Bunds are bid after poor German ZEW figures.Crude holds an upward bias, XAU/base metals are pressured by the stronger Dollar; BTC pulls back from a USD 89k handle.Looking ahead, NY Fed SCE, OPEC MOMR, Speakers including ECB's Cipollone, Fed's Waller, Barkin, Kashkari & Harker.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

Equities are entirely in the green, with a strong European morning thus far; the RTY outperforms.DXY is on a firmer footing with the Trump Trade still in action, JPY underperforms following the BoJ SOO which highlighted the lack of urgency to hike.Bonds are mixed, with Bunds firmer amid suggestions that Chancellor Scholz could bring forward a vote of no-confidence; Treasury cash trade is closed on account of US Veterans Day.Crude slips on comments by Hezbollah that there are negotiations to stop the war; XAU/base metals are hampered by the stronger Dollar and softer-than-expected Chinese inflation metrics overnight.Looking ahead, No Tier 1 events. As a reminder, today is US Veterans Day.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

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European bourses are entirely in the red, with sentiment hit after China's NPC press conference disappointed markets; US futures remain flat.DXY is slightly firmer, with the JPY strong whilst the Antipodeans lag given the lack of fresh stimulus measures from China.Bonds are on a firmer footing, with modest outperformance in Gilts and as USTs await Fed speak from Bowman & Musalem.Crude oil, XAU and base metals are all on the backfoot, following the underwhelming Chinese NPC press conference.Looking ahead, Canadian Jobs, US UoM Inflation Prelim/Sentiment, Speakers including BoC's Gravelle, Fed's Bowman & Musalem.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

European bourses are modestly firmer across the board, with US futures also slightly higher, but ultimately taking a breather following the significant strength in the prior session.Dollar is giving back recent gains, Antipodeans outperform attempting to claw back post-election losses amid resilience in China.USTs are a touch firmer awaiting today's FOMC meeting, Bunds are the clear underperformer after the German coalition collapses.Crude is modestly weaker, paring back some of gains seen in the prior session; XAU benefits from the softer Dollar and base metals gain amid positive price action in China overnight.Looking ahead, US Initial Jobless Claims, Wholesale Inventory, BoE & Fed Policy Announcement, ECB's Lane, Schnabel, Elderson, BoE Governor Bailey & Fed Chair Powell.Earnings from PG&E Corp, Duke Energy Corp, Becton Dickinson and Co, Air Products and Chemicals Inc, Arista Networks Inc, TransDigm Group Inc, EOG Resources Inc, Motorola Solutions Inc, Airbnb Inc, Fortinet Inc, Trade Desk Inc, Ralph Lauren Corp, Moderna Inc & Warner Bros Discovery Inc.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

US Presidential Election results are indicative of a Trump victory and Republicans taking the Senate; House is too close to call.Equities soar with clear outperformance in the RTY with Trump poised to win the US election; Novo Nordisk +7.1% benefits after posting strong Q3 Wegovy sales.Dollar flies higher, DXY topped 105.00, before paring back to a current 104.90; EUR & JPY the clear underperformers amongst the G10s.USTs pressured and Bunds bolstered by the Trump Trade; US curve markedly steeper, attention on the House result to see if this continuesA soft session for the crude complex, pressured by the firmer Dollar and Trump's known stance on US drilling/supply; XAU softer, base metals dented but awaiting China stimulus detailsLooking ahead, NBP Policy Announcement, US Election Results, Comments from ECB President Lagarde, de Guindos & BoC's Rogers, Supply from the US, Earnings from Williams Companies Inc, CVS Health Corp, Gilead Sciences Inc, Sempra, Qualcomm Inc, Johnson Controls International & Arm Holdings.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

European bourses are mostly lower and US futures trade tentatively ahead of US CPI.DXY is flat, JPY outperforms following hawkish BoJ Himino commentary.USTs are modestly lower potentially pressured by FOMC Minutes/30yr concession; Gilts lag after IFS analysis.Crude is firmer, XAU gains and holds comfortably above USD 2600/oz and base metals are mostly in the green.Looking ahead, US CPI, Initial Jobless Claims, US Federal Budget, NZ Manufacturing PMI, Chinese M2 Money Supply, ECB Minutes, Tesla Robotaxi Event, AMD AI Event, Speakers including Fed's Cook, Barkin & Williams, Supply from US, Earnings from Delta.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

European bourses are choppy and trading indecisively on either side of the unchanged mark, but the FTSE 100 outperforms; US futures are modestly lower.Dollar is firmer with G10s lower across the board to varying degrees; the Kiwi lags after the RBNZ delivered a widely expected 50bps cut and signalled the likelihood of further easing to come.Bonds are incrementally firmer, UK auction garnered solid demand but the tail was still large sparking some modest pressure in Gilts.Crude is firmer attempting to pare back the hefty losses in the prior session; XAU/base metals are modestly lower.Looking ahead, US Wholesale Sales, FOMC & NBH Minutes, Speakers including Fed's Bostic, Logan, Goolsbee, Jefferson, Barkin, Collins & Daly, Supply from the US.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

European bourses are subdued across the board, with sentiment hampered after China's disappointing NDRC press conference; US equity futures are mixed.Dollar is slightly lower, JPY is scaling back some recent losses whilst the Aussie is hampered by broader weakness in commodity prices.Bonds are flat, having initially opened with a positive bias, UK and German auctions provided no impetus.Crude is softer given the broader risk aversion, XAU/base metals are on the backfoot after China's NDRC failed to deliver new major stimulus measures.Looking ahead, US NFIB Business Optimism Index, RCM/TIPP Economic Optimism, International Trade, Canadian Trade Balance, EIA STEO, Speakers including BoE's Breeden, Fed's Bostic & Collins, Supply from the US, Earnings from PepsiCo.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

Equities are modestly lower across the board and unable to continue the post-NFP gains seen on Friday.Dollar is flat and attempting hold onto its recent gains, JPY firmer vs Dollar whilst the GBP narrowly underperforms.Bonds continue to extend on the post-NFP losses with the US 10yr yield now incrementally above 4%; highest since Aug 8.Crude is firmer given the geopolitical backdrop, XAU is flat whilst base metals are flat/mixed.Looking ahead, US Employment Trends & Consumer Credit, Speakers including ECB's Escriva, Fed's Kashkari, Bostic & Musalem.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

European bourses are mixed whilst US equity futures trade tentatively on either side of the unchanged mark ahead of today's US NFP report.Dollar is rangebound, GBP and JPY are attempting to claw back some of their recent losses.USTs are flat whilst Bunds slip extending on this week's pressure; Gilts are also on the backfoot fuelled by hawkish-leaning commentary from BoE's Pill.Crude continued to hold an upward bias as focus remains on the geopolitical tensions, XAU/base metals hold a mild upward bias.Looking ahead, highlights include US NFP, Canadian Ivey PMI, Comments from Fed's Williams, Goolsbee, ECB's Elderson.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

European bourses are lower across the board (ex-FTSE 100), US futures are in negative terrirtory ahead of today's US data deluge.Dollar is firmer vs G10 peers, GBP underperforms after BoE Governor Bailey said the bank could be a "bit more aggressive" in cutting rates provided the news that inflation continues to be good.Bonds are on the backfoot, extending on the pressure seen post-ADP on Wednesday; Gilts outperform following the dovish-leaning Bailey comments.Crude oil is continuing the benefit from the geopolitical risk premium, XAU/base metals dip amid the stronger DollarLooking ahead, US Services/Composite PMIs (Final), US Challenger Layoffs, IJC, Durable Goods (R), Factory Orders, ISM Services PMI, Speakers include Fed's Bostic & Schmid, Supply from the US, Earnings from Constellation Brands.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

European bourses are generally on a firmer footing whilst US futures are modestly lower with slight underperformance in the RTYDollar is flat unable to continue the prior day's geopolitical-indued gains, JPY underperforms with USD/JPY around 144.25USTs are flat and Bunds give back some of its recent strength, Gilts follow peers and took another leg lower following an auctionCrude continues to benefit from the geopolitical risk premium, XAU slips off best levels whilst base metals gainLooking ahead, ADP National Employment, NBP Policy Announcement; OPEC+ JMMC Meeting, Speakers including ECB's Elderson, Schnabel, Fed's Hammack, Musalem, Bowman & Barkin. Earnings from Conagra & Levis.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

Equities are mixed ahead of US ISM Manufacturing and JOLTS data; RTY marginally underperformsDollar is firmer continuing the gains seen post-Powell on Monday, EUR was fairly unreactive to EZ Manufacturing PMIs/HICPUSTs are firmer and back to pre-Powell levels, Bunds also gain but were unmoved by the EZ PMIs which were revised modestly higher but the overall growth narrative remains weakCrude continues to slip, XAU gains and base metals are mixedLooking ahead, US, Canadian Manufacturing PMIs, US ISM Manufacturing PMI, JOLTS Job Openings, Speakers including ECB's Schnabel, BoE's Pill, Fed's Bostic, Cook & Barkin, Earnings from Paychex, Nike, Lamb WestonRead the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

European equities post losses to varying degrees, with autos hit after several guidance cuts; US equity futures are flat/subdued with the focus on Fed Chair Powell later.Dollar is slightly softer, Antipodeans benefit from the positivity surrounding China whilst the traditional havens CHF & JPY lag.Bonds are modestly softer to varying degrees; Bunds were not too reactive after the German Regional CPI metrics painted a picture of cooling Y/Y inflation ahead of the Nationwide figure at 13:00 BST / 08:00 EDT.Crude oil has pared initial gains and is now modestly lower as markets digest the recent geopolitical updates between Israel/Hezbollah; XAU is subdued whilst base metals benefit from the Chinese optimism.Looking ahead, German CPI, Chicago PMI, Speakers including ECB President Lagarde, Fed Chair Powell, Bowman, BoE's Greene, Earnings from Carnival.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk