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What we know from the US Central Bank Meeting so far:

1) Taper as expected by $15bln a month. But want to retain flexibility based on economic outlook

2) Nice little break glass in case of emergency "expected to be transitory" clause inserted in the statement in regards to inflation.

3) Now we have to see if Powell pushes back against market's aggressive rate hike pricing.

Dollar happy - Gold unhappy
Happy Monday Everyone! 😍πŸ₯°
Five things traders need to know today

πŸ˜ƒ US stocks extended the rally on the lower Treasury yields and strong-than-expected employment data. Russell 2000 outperformed by a weekly gain of 6%. While most European and Asian indices ended the week higher, mainland China and Hong Kong benchmarks were the losers.

↕️ Gold jumped to a two-month high of $1,817.83 as central banks pushed back rate hike expectations last week. WTI crude (SpotCrude) declined for a second week to $81.38. Bitcoin was above $62,000.

πŸ’΅ The US dollar index (USDX) was little changed at 94.14, retreating from a fresh yearly high of 94.57. The yield on 10-year Treasury slumped to 1.45% (-6.55%), pushing USDJPY lower to 113.38, the lowest close price in three weeks.

πŸ‡ͺπŸ‡Ί EUR was largely unchanged last week at 1.1566 near the 200-week SMA, hitting the lowest level since July 2020 on Friday. GBP fell below 1.35 after the BoE surprisingly kept the rate unchanged, with the UK two-year yield -43% on the week.

🌏 AUD, the weakest G10 currency last week, traded toward 0.7400, ending a five-week winning streak. NZD ended lower at 0.7119. USDCAD continued the recovery to 1.2456 on the back of weak crude prices.
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For those who missed, Bitcoin has made a new all-time high and the whole crypto scene is moving strongly - one for the radar
Five things traders need to know today

πŸ‘ US stocks kicked off the week with small gains after the Congress passed the $1tn infrastructure bill, with the S&P 500 closing above 4700 for the first time. Tesla -4.84%, with 58% of Twitter respondents favoured share selling. Most European and Asian indices closed lower on Monday.

πŸ†™ Gold extended the gains to $1,824.21. WTI crude (SpotCrude) edged higher to $82.37 as Saudi Arabia raised its crude prices to Asia. Bitcoin surged to a fresh record high in early trading hours.

πŸ’² The US dollar index (USDX) dipped to 93.96, while the yield on 10-year Treasury struggled below 1.50%. USDJPY fell for a third straight day to 113.22, the lowest close price since mid-October.

πŸ˜ƒ EUR ended higher at 1.1586 despite the fourth wave of Covid-19 across Europe. The ECB reiterated that the inflation is β€˜transitory’. GBP rebounded to 1.3566 amid the USD weakness.

πŸ₯ NZD (+0.63%) jumped to 0.7164 and led the G10 overnight. New Zealand’s largest city is set to ease restrictions on Tuesday. AUD climbed to 0.7424 despite the front-end yield continuing the correction. USDCAD was slightly lower at 1.2441.
Five things traders need to know today

πŸ”» S&P 500 ended an eight-day winning streak on Tuesday and Dow and Nasdaq also retreated from all-time highs. Financial sector underperformed amid lower US Treasury yields while Tesla (-12%) dragged the consumer discretionary. Major European and Asian indices were in red, with Hang Seng +0.2%.

🌟 Gold rose for a fourth straight session to $1,831.80, approaching the key resistance level. WTI crude (SpotCrude) extended the gains to $84.72 as US crude inventories unexpectedly decreased by 2.5 million barrels last week. Bitcoin and Ethereum made fresh record highs.

πŸ’΅ The US dollar index (USDX) edged lower to 93.89 as the yield on 10-year Treasury continued the downward trend. US PPI missed estimates in October and CPI data is due out today. USDJPY dropped to its lowest level in four weeks.

πŸ‡ͺπŸ‡Ί EUR closed just below 1.16, helped by strong German ZEW economic sentiment. GBP ended slightly lower at 1.3558. Safe-haven CHF strengthened against the greenback.

⏬ AUD (-0.62%) was down to 0.7378 as risk appetite turned sour, despite NAB survey showing strong business conditions and confidence in Australia. NZD (-0.51%) slumped to 0.7127. USDCAD was little changed at 1.2435, sitting just above the flat 20-day SMA.
What comes up must go down πŸ“ˆπŸ“‰
Five things traders need to know today

πŸ“‰ US stocks continued the correction on Wednesday as the highest inflation growth in three decades boosted the expectation of a faster pace of tightening from the FED. While European indices closed higher, Asian benchmarks underperformed.

🌟 Gold surged to $1,849.15, the highest close price since mid-June. WTI crude (SpotCrude) fell to $81.42 as the US crude inventories increased for a third straight week. Bitcoin eased back to $64,367.

πŸ€‘ The US dollar index (USDX) hit a 16-month high of 94.82 following the strong US CPI data as the yield on 10-year Treasury was back above 1.55% (+7.92%). USDJPY rose to 113.90, snapping a four-day losing streak.

πŸ’Ά EUR recorded a new year-to-date low at 1.1476 amid the USD strength. GBP had a similar pattern and plunged toward 1.34 ahead of UK Q3 GDP, which is expected to slow down. USDCHF broke above a negative channel to 0.9182.

🌎 AUD extended the decline to 0.7325 amid a risk-off mood. The Aussie October employment data is scheduled for release today. NZD ended lower at 0.7057. CAD eased to 1.2493 per dollar and NOK led the decline in G10.
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Five things traders need to know today

πŸ“ˆ S&P 500 eked out small gains on Thursday helped by materials and tech sectors. Nasdaq +0.52% while Dow underperformed. China’s benchmark index CSI 300 +1.6% after the sixth CCP plenum as the government showed some support for the real estate market.

πŸ‘ Gold rose for a sixth day in a row to $1,861.77, the highest since June. WTI crude (SpotCrude) edged lower to $81.30 as OPEC expressed concerns about slowing demands. Bitcoin was above $65,000.

πŸ†™ The US dollar index (USDX) climbed above 95 for the first time since July 2020 , with the yield on 10-year Treasury jumping toward 1.60%. Michigan consumer sentiment for November is due out today. USDJPY closed above 114.

πŸ”» EUR extended the decline to 1.1448 and GBP fell to 1.3365 after UK’s disappointing Q3 GDP growth. Both currencies hit fresh year-to-date low.

😟 AUD continued the losses to 0.7290 despite the higher commodity prices, with Aussie employment data missing estimates in October. NZD closed at a one-month low of 0.7020. USDCAD was up to 1.2579, making CAD (-0.68%) the weakest G10 currency overnight.
Five things traders need to know today

πŸ“‰ S&P 500 closed flat on Monday, while Dow and Nasdaq started the new week with modest losses. Major European and Asian indices closed higher, with the Beijing Stock Exchange kicking off yesterday. The US and China will hold a virtual summit today.

πŸ”» Gold dipped to $1,862.70, snapped a seven-day winning streak. WTI crude (SpotCrude) was slightly higher at $80.92 while Brent (SpotBrent) dropped for a third day to $82.45. Bitcoin traded below $64,000.

πŸ’΅ The US dollar index (USDX) jumped to 95.44, the highest level in 16 months. The yield on 10-year Treasury climbed above 1.60%. US retail sales are scheduled for release today. USDJPY was up to 114.13.

⏬ EUR (-0.67%) extended the declines to 1.1366 as the ECB president has again pushed back the expectation of higher rates. Many EU nations are experiencing another Covid wave and renewed social restrictions. GBP was unchanged at 1.3412 ahead of UK employment data.

πŸ˜ƒ AUD rebounded to 0.7343 while NZD was little changed at 0.7043. RBA is set to release its October meeting minutes today followed by Lowe’s speech. USDCAD ended lower at 1.2512.
Five things traders need to know today

πŸ˜ƒ US stocks ended higher on Tuesday as stronger-than-expected retail sales numbers boosted the market risk sentiment. Biden signed a $1 trillion bipartisan infrastructure bill into law. Most European and Asian indices closed in positive territory.

πŸ”» Gold fell to $1,850.46 after hitting a fresh five-month high. WTI crude (SpotCrude) was slightly lower at $80.78. Crypto took heavy losses overnight, with Bitcoin (-5.19%) plunging toward $60,000 and ETH (-6.84%) breaking below the upward trend to $4,257.80.

πŸ€‘ The US dollar index (USDX) extended the rally to 95.84 as the yield on 10-year Treasury was higher at 1.64% following the hawkish FED commentary. USDJPY jumped to 114.81, the highest since 2017.

πŸ‡ͺπŸ‡Ί EUR slumped for a fifth day to 1.1319 on worries of the rising Covid cases in Germany and Austria. GBP was up to 1.3429, showing some resilience against the dollar after the upbeat employment report. UK’s CPI is due out today.

⏬ AUD ended sharply lower at 0.7302 as RBA minutes said no hike is expected until wage and inflation criteria are met. NZD dropped to 0.6900. USDCAD was above 1.2560.