On 08/10/2021 TraderTalent.com is bringing you another guest post from Bryan Noble.

U.S. Equity Markets continued their rally on a debt ceiling deal, ending yesterday’s session higher, led by the Dow with a gain of 0.98%. Congress announced that it had reached a deal to suspend the debt ceiling until December, which would provide the government with $480 billion in borrowing capacity. This removes any uncertainty around a potential default. The House voted on this Bill overnight and it will now go to the Senate on Tuesday. In terms of economic data, Jobless Claims fell sharply and came in below estimates. And Continuing Claims – which represent jobless claims for more than two weeks – also came in below estimates. This is a good sign for the labour market’s recovery. In the S&P 500, all 11 sectors finished higher. European Markets rose. German Health Minister Jens Spahn said the country anticipates few COVID-related restrictions in the fall and winter due to increased vaccine uptake. The European Central Bank (“ECB”) was said to consider a new asset purchase program for when the current Pandemic Emergency Purchase Program ends. That implies a new tool for economic support and low interest rates. Supporting this outlook were comments from ECB Governing Council member Yannis Stournaras. He said investors’ rate-hike concerns do not reflect central bank guidance, implying continued easy money policies. On a down note, German Industrial Production data for August was weaker than anticipated, falling versus July, as manufacturing and construction activity fell. In Asia, China’s Foreign Policy Chief Yang Jiechi called his meeting with US. National Security Advisor Jake Sullivan more meaningful than previous meetings with officials from the administration of President Joe Biden In addition, the White House said Biden and China’s President Xi Jinping would conduct a virtual meeting later this year to discuss areas of mutual interest going forward. Bank of Japan Governor Haruhiko Kuroda said economic growth is improving, and inflation will increase gradually, but the central bank won’t hesitate to use more stimulus if necessary. That assured investors the new government in Japan will not pull the rug out from under the carpet. On the downside, Taiwan’s Defense Minister Chiu Kuo-cheng warned China posed its most serious risk in more than 40 years, saying it could launch a full-blown attack on the island by 2025. That could stoke regional political tensions. Elsewhere, Oil rose 1.83% after the Department of Energy said it had no plans to sell crude from the Strategic Petroleum Reserve. While Bitcoin fell 2% on profit-taking after its recent run higher.

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 173 points yesterday and is now ahead by 629 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.


Leave a Reply

Avatar placeholder

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