Overnight
Japan GDP Q2 2025
Japan surprises with a rebound in GDP to 2.2% annualised in Q2. It's old news of course and a revision but equally bucks the trend of the economy stagnating.
US job growth in year through March was far lower than estimated [Reuters]
The department's estimate for total payroll employment for the period from April 2023 to March 2024 was lowered by 818,000.
Breaking
China’s Central Bank Extends Gold Buying Spree to 10 Months [Bloomberg]
Japan’s PM Ishiba to Step Down, Paving Way For New Leader [Bloomberg]
Treasury Secretary Bessent warns of massive refunds if the Supreme Court voids Trump tariffs [CNBC]
EU steelmakers plead for tariffs on cheap imports to avert collapse [FT]
Bitcoin
A bit of a bounce for BTC this morning but price being driven elsewhere.
BITCOIN/USD Daily
Commodities
The relentless buying of Gold continues this morning. If Silver underperforms as economy tanks and Bitcoin can be pulled down by tech stocks, there's only one choice for monetary hedge at the moment.
GOLD/USD Daily
Foreign Exchange
Aussie breaking higher but after 15 years price has pierced the trend-line many times. Price confirmation and pull back to the scene of the crime is the tactic here.
AUD/USD Daily
Bonds
A big rally in bonds, drop in yields, across the board on Friday but Australian yields not so much, and nearly 2% higher than 10 years ago. In line with AUD/USD looking to break a 15 year resistance, there is a good trade about to appear.
Australia 30 Year Government Bond Yield Daily
Equities
Tesla at short-term resistance. Plenty of bad news/hating but yet again it keeps crawling along the bottom of the channel. There's a $100 per share opportunity coming up.
TESLA Daily
Interesting
The ‘invisible kingpin of data centres’ riding the Gulf’s AI boom [FT]
Canada’s youth face bleak employment market as economy slows [FT]
China paves way for renminbi fundraising by Russian energy giants [FT]
Economic Indicators Today
