Monica Kingsley
Monicakingsley
S&P 500 rose, adding to clients‘ long gains – so is it overbought? On a short-term basis, yes – so, the next question is whether the rally can go on, what is the message individual sectors and subsectors are sending – and at these fresh ATHs, that‘s what I‘m answering for clients in the premium section while offering you, dear readers, the volatility and options market view (assuming you‘re by now familiar with the extensive weekend macro analysis – there is plenty of positioning for retail sales already happening, isn‘t it so). Intraday calls also worked well, illustrating the relative dynamics between indices. Forget not Bitcoin has woken up either.
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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EUR/USD holds steady above 1.0900 after earlier rebound
EUR/USD trades marginally higher on the day above 1.0900. According to the data from Germany and the Eurozone, ZEW Survey - Economic Sentiment improved more than expected in October, while the US data showed a sharp decline in NY Empire State Manufacturing Index.
GBP/USD clings to recovery gains above 1.3050 after UK data
GBP/USD stays in positive territory and edges higher toward 1.3100 on Tuesday. The data from the UK showed that the ILO Unemployment Rate declined to 4% in the three months to August, with Employment Change rising by 373K, helping Pound Sterling gain resilience.
Gold struggles to gather recovery momentum, holds above $2,650
Gold clings to small gains above $2,650 on Tuesday after closing the first day of the week virtually unchanged. Growing signs of an economic downturn in the Chinese economy makes it difficult for XAU/USD to gather recovery momentum.
Ethereum shows mild signs of recovery
Ethereum price broadly consolidates after breaking above its 50-day EMA at $2,535, suggesting a possible rally ahead. US spot Ethereum ETFs records an inflow of $17 million on Monday. Ethereum’s open interest surged more than 16%, indicating new buying activity.
RBA widely expected to keep key interest rate unchanged amid persisting price pressures
The Reserve Bank of Australia is likely to continue bucking the trend adopted by major central banks of the dovish policy pivot, opting to maintain the policy for the seventh consecutive meeting on Tuesday.
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