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MORNING BID EUROPE-Three-alarm fire as tech selloff resumes, Takaichi stimulus lands

Tech stocks are tumbling again, impacting global markets. Japan's Finance Minister hinted at FX intervention, coinciding with a $135 billion stimulus announcement, affecting bonds and yen. Core inflation in Japan rose to 3.0%. European markets are set to join the selloff. Oil prices fell amid Russia-Ukraine peace hopes. A fire disrupted COP30 talks in Brazil. Key economic data from the UK, France, Germany, and Eurozone could influence markets.

Reuters·
Reuters·

[Today's Market Preview] Non-farm payroll data is coming in strong! Euro exchange rate declines for 5 consecutive days

Today's market outlook includes five major financial events: 1. The three major stock index futures rose, NVIDIA's earnings report exceeded expectations, and its stock price rose over 5%; 2. The United States will release the September non-farm payroll report, which may affect the trends of the US dollar, gold, and US stocks; 3. The US dollar index has risen for the fifth consecutive day, while the euro exchange rate has fallen for five consecutive days; 4. The Japanese yen exchange rate has hit a new low in 10 months, and there are still variables regarding the Bank of Japan's interest rate hike in December; 5. Bitcoin has temporarily stabilized, but the market is betting on a drop to $85,000

mitrade·
US
NVDA
-0.56%
US
GBTC
-3.74%
US
ABTC
-8.30%
mitrade·
US
NVDA
-0.56%
US
GBTC
-3.74%
US
ABTC
-8.30%

Yen Under Fire, Bitcoin Slips, All Eyes On Nvidia

Image Source: Pexels The US dollar began the day on a strong footing, with USDJPY climbing above 155.00 despite dovish remarks from Fed Governor Waller, who reiterated support for a December rate cut amid labor market weakness and pressure on lower-income households.Video Length: 00:01:35More By This Author:Yen Slips, Euro Softens, Dollar Firms Markets Tread Carefully As Global Risks Resurface Hawkish Rhetoric Does Nothing For Dollar

Talkmarkets·
Talkmarkets·

Intraday Analysis - Tuesday, Nov. 18

The USDCHF is seeking buyers around the mid-0.7900 area, with 0.7880 as a critical support level. A break below 0.7800 could lead to further decline, while clearing 0.8000 may resume its climb. Gold (XAUUSD) is holding above $4000, with 4050 as current support and 4100 as resistance for recovery. The FTSE (UK100) is testing support to prevent further sell-off, with a break below 9600 potentially leading to 9520, while oversold RSI may cause a retracement towards 9760.

Talkmarkets·
Talkmarkets·

Will the grand narrative be reversed?

Recent grand narratives in the global economy, such as tariffs, the dollar, and technology, are showing signs of adjustment. Trump's declining approval ratings and the Republican election losses may shift his focus back to domestic issues, reducing the impact of tariffs on the global economy. The Federal Reserve's "hawkish rate cuts" could lead to a temporary strengthening of the dollar. The penetration of AI technology is still ongoing, and the technology narrative includes strategic implications such as great power competition. With the midterm elections approaching next year, domestic factors will constrain Trump, the impact of tariffs will ease, the dollar will fluctuate in both directions, and the influence of technology on market risk appetite is not yet over. Domestic demand and price improvements remain key areas of focus

Wallstreetcn·
Wallstreetcn·