The US30 chart is on the cusp of moving back into its bullish channel between the upper blue and red bands. A cross into this region is positive.

Chair Powell’s speech sparked two-way action and consolidated the recent market-alignment with the Fed’s projected terminal rate, but we did not really get anything that new nor overly hawkish and NAS100 retains its bullish bias

Watch today’s US Open for commentary on the blockbuster US jobs report, the recent central banks blitz and the impact on EUR/USD, NAS100 and other asserts

After Friday’s blowout employment report, markets are now pricing a higher Fed terminal rate, which weighs on the stock market, along with recent mostly poor tech earnings and US-China tensions

Netflix and Meta Platforms provided encouraging quarterly results, but yesterday’s earnings reports by the rest of the FAANGs (Apple, Amazon, Alphabet) were troubling

Watch today’s US Open for commentary on the Fed’s feeble pushback against market expectations for a pivot, the BoE’s dovish hike and the ECB’s explicit guidance for another 50 bps rate increase

The tech index builds on Wednesday’s gains as the Fed pointed to more tightening, but appeared less aggressive, while Meta Platform’s results spurred optimism

The US Federal Reserve downshifted again with a 25 bps rate increase, maintained guidance for more tightening and Chair Powell was hawkish, but not forcefully so

Watch today’s US Open for insights on the upcoming central banks blitz, as the US Fed, the Bank of England and the European Central Bank announce their monetary policy decisions

The potential for a wage spiral seems exaggerated. The employment cost index is 1.0% q/q. This is lower than the forecast of 1.1% q/q and the previous 1.2% q/q. Tomorrow, the Fed will hike by 25bps and release its statement. The lower than anticipated costs will be welcomed by the central bank.

The index slides as markets gear up for the Fed’s policy decision and earnings reports from tech heavyweights such as Meta, Apple, Amazon and Alphabet