On 07/10/2021 TraderTalent.com is bringing you another guest post from Bryan Noble.

U.S. Equity Markets rallied strongly off their lows on reports of a debt ceiling deal, finishing the day higher, led by the NASDAQ 100’s gain of 0.63%. Markets opened sharply lower again. This was despite strong ADP employment data. The ADP employment data came in above estimates, showing that the job market’s recovery continues. However, a strong labour market makes the case for the Federal Reserve to begin pulling back on its support for the U.S. economy. This is why we saw markets fall despite the beat. Late in the day, markets surged off their lows on reports that Senate Minority Leader Mitch McConnell (R-KY) had offered Democrats a short-term extension of the debt ceiling This would allow Democrats to raise the debt ceiling on their own through the reconciliation process, and avoid a default. Expect this headline to ease growth and interest rate fears in the markets. Now, investors look ahead to the other labour market data this week – Non-Farm Payrolls and the Unemployment Rate which will be released tomorrow. European Markets closed higher. Markit Euro-Zone final composite Purchasing Managers’ Index (“PMI”) data for September rose versus the preliminary reading, marking the seventh straight month of expansion. Euro-Zone Produce Price Index (“PPI”) figures came in below estimates for August, falling versus July on a month-over-month basis, and indicating inflation may be easing. The Organisation of the Petroleum Exporting Countries and its allies agreed to maintain current output increase targets to support high prices. In Asia, China’s Ministry of Foreign Affairs Spokesperson Hua Chunying said the government in Beijing is determined to protect sovereignty and its territorial integrity with regards to Taiwan. Australia’s export figures for August unexpectedly gained, hitting a record, as demand for natural gas and coal continued to rise. Japan’s final composite PMI data for September strengthened versus the initial reading as services sector business optimism hit the highest level in three months. Equity markets in China remained closed for a public holiday. Elsewhere, Oil fell 2.39% on a larger-than-expected increase in U.S. crude inventories and speculation that the U.S. could release more crude from its Strategic Petroleum Reserve, while Bitcoin surged a further 7.55% after the chairman of the SEC said it was not planning on banning cryptocurrencies.

To mark my 2400th issue of TraderNoble Daily Commentary I am offering a special 2-Year Rate of Euro 2750 for my Platinum Service which includes 1 to 4 updated emails throughout the trading day To demonstrate this value, a monthly subscription over the same period would cost 4440 euro in total This offer represents a 38% discount and is open to both new and existing members. If anyone is interested in this offer can you please email me on [email protected] for details

For anyone following my Platinum Service it made 403 points yesterday and is now ahead by 456 points for October after making 2866 points in September, having closed August with a gain of 1543 points, and 996 points in July. The Platinum Service made 1366 points in June, 1439 points in May, 1244 points in April, having ended March with an impressive gain of 3769 points, 3286 points in February, 2077 points in January, and 2273 points last December. Since I started this New Platinum Service in June 2015 it has averaged a monthly gain of over 1600 points


To view the current daily levels commentary (which non-members can only view in older reports) you would need to purchase a Trader Noble Commentary Subscription from US$50/month.


0 Comments

Leave a Reply

Avatar placeholder

Your email address will not be published. Required fields are marked *