Initial Jobless Claims kept markets up despite CPI and ECB hold. Everything's converging on Powell needing to cut 50bps.
Anything less will disappoint.
US CPI Slightly Hotter
The US Consumer Price Index (CPI) for August 2025 showed inflation accelerating slightly, with the headline all-items index rising 0.4% month-over-month (MoM) on a seasonally adjusted basis and 2.9% year-over-year (YoY) unadjusted.
Bitcoin Update
Neckline is broken to the upside. Needs to confirm of course. 117.5k and above breaks the current market structure and looks to bring into play the inverse head and shoulders formation targeting 150k.
Gold Update
A pause was definitely needed after such an epic run. A move back to 3,500 is where we need to go to get the energy for the next big move, up to 4,000. Both look a long way away but I’m sure Comrade Powell has something up his sleeve.
Silver Update
Silver has a good day when economy and Gold would suggest it wouldn’t. We’ve closed above the trendline and also tagged the pivot line. Let’s see what happens on Wednesday as monthly chart suggests a top around these levels.
GBP/USD Update
Cable trying to complete the inverse heads and shoulders formation. We’re not quite there yet.
USD Update
DXY can’t sustain any sort of rally, and the grim reaper beckons. 15 year uptrend could get broken on Wednesday. Or not
US 10 Year Yield Update
More downside in yield but wick suggests that’s all for now. A rapid 30bps move down on top of FED easing suggests 50bps cut now baked into the price.
Shanghai Composite Update
Maybe a pause in the amazing Chinese equity rally. Don’t bet on it as flows leaving the US accelerate.
NASDAQ Update
The train’s still running, today it’s supported by Initial Jobless Claims suggesting a big cut next week. Yesterday was Oracle. Nvidia……
Economic Indicators Today
