Risk Sentiment is off to a poor start as Asian Equities are trading in the red to the exception of Japanese Equities. USDCNH is trading higher on PBoC Easing speculation which could come in as early as Monday and TWD is bearing the brunt on account of Election uncertainty. USD Index consolidated overnight closing 0.23% higher on the day ahead of the much anticipated CPI Report. Implied pricing for Fed Fund Rates shows 138 bps of rate cuts into 2024. Major Overnight Headlines An "Unauthorized" Post On X stated “Approval Of Bitcoin Spot ETF ”. Bitcoin prices dropped 1.85% after touching a high of 47897 post the SEC Clarification. Crude Oil prices continued to chop around and rose 1.5% The Atlanta Fed's GDPNow forecast for Q4 GDP was revised down to 2.2% from 2.5% in the previous estimate. World economy is estimated to have grown 2.6% during 2023, down from 3% in 2022 but stronger than the 2.1% growth it projected in June . Global growth, however, is expected to slow to 2.4...
The specific focus of the Blog is on Global and Domestic interest rates and currencies market. I look at fundamentals to define my bias and corroborate that with a study of price action to put on high conviction trades. The views and opinions are those of author and author alone. ~ Author: Vaishali Bagchi