Monica Kingsley
Monicakingsley
S&P 500 made the expected dip on hotter CPI, and then went on to recover – both the macro prediction and market response I got right for clients. While the first serious support zone of 5,785 – 5,795 wasn‘t hit, the price action still offered great intraday gains for clients, it had just been not suitable for swing longs initiation as premarket positioning for PPI (hello, another inflation report) took the index not too far from 24hrs ago.
The other key development yesterday was in the bond market (and in higher than expected unemployment claims, over 250K) – rich day of auctions with implications.
All essays, research and information represent analyses and opinions of Monica Kingsley that are based on available and latest data. Despite careful research and best efforts, it may prove wrong and be subject to change with or without notice. Monica Kingsley does not guarantee the accuracy or thoroughness of the data or information reported. Her content serves educational purposes and should not be relied upon as advice or construed as providing recommendations of any kind. Futures, stocks and options are financial instruments not suitable for every investor. Please be advised that you invest at your own risk. Monica Kingsley is not a Registered Securities Advisor. By reading her writings, you agree that she will not be held responsible or liable for any decisions you make. Investing, trading and speculating in financial markets may involve high risk of loss. Monica Kingsley may have a short or long position in any securities, including those mentioned in her writings, and may make additional purchases and/or sales of those securities without notice.
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GBP/USD: The bearish outlook remains in play below 1.2700
The GBP/USD pair edges lower to near 1.2675, the lowest level since August during the Asian trading hours on Friday. The cautious remarks from the Federal Reserve Chair Jerome Powell on Thursday and stronger US economic data boost the US Dollar broadly and weigh on the major pair.
EUR/USD rises to near 1.0550 after rebounding from yearly lows
EUR/USD breaks its five-day losing streak, trading around 1.0540 during the Asian session on Friday. This rebound is likely due to a downward correction in the US Dollar following comments from Fed Chair Jerome Powell.
Gold defends key $2,545 support; what’s next?
Gold price is looking to build on the previous rebound early Friday in search of a fresh impetus amid persistent US Dollar buying and mixed activity data from China.
Bitcoin to 100k or pullback to 78k?
Bitcoin and Ethereum showed a modest recovery on Friday following Thursday's downturn, yet momentum indicators suggest continuing the decline as signs of bull exhaustion emerge. Ripple is approaching a key resistance level, with a potential rejection likely leading to a decline ahead.
Trump vs CPI
US CPI for October was exactly in line with expectations. The headline rate of CPI rose to 2.6% YoY from 2.4% YoY in September. The core rate remained steady at 3.3%. The detail of the report shows that the shelter index rose by 0.4% on the month, which accounted for 50% of the increase in all items on a monthly basis.
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