On 11/06/2021 TraderTalent.com is bringing you another guest post from Bryan Noble of TraderNoble.com.

U.S. Equity Markets rose as strong jobs data overshadowed a spike in inflation, ending the day higher, led by the NASDAQ 100 which closed yesterday’s session with a gain of 1.05%. Yesterday, jobs and inflation data were the key focus. Jobless Claims fell, hitting the sixth straight post pandemic low. They now sit at the lowest level since March 14, 2020. Continuing Claims, which represent those that have filed for unemployment for at least two weeks, also hit the lowest level since March 14, 2020, the Labour Department said. This overshadowed the Consumer Price Index data that came out at the same time. CPI data for May were stronger than anticipated. On a year-over-year basis, the core data moved well above the Federal Reserve’s 2% target. The reading saw a 3.8% gain versus the expectation for 3.5% and the prior month’s 3% increase. This could have sparked fears of increased inflation, but these were overshadowed by the strong jobs data. European Markets again closed mixed. The European Central Bank released its latest monetary policy statement, with investors awaiting President Christine Lagarde’s press conference for an update on the stimulus outlook. France’s Industrial Production data for April were weaker than expected, declining versus March, and indicating the regional recovery remains uneven. German Finance Minister Olaf Scholz said the current rise in inflation is a “temporary phenomenon,” in line with other central bank commentary. In Asia, The White House ordered the Commerce Department to keep track of app downloads like WeChat and TikTok that could pose potential national security concerns. Japan’s producer price index (“PPI”) data for May were stronger than expected, increasing versus April, as the numbers lapped the easiest comparison period from a year ago. The Bank of Korea’s household lending value for May held steady versus April, implying ample liquidity in the country’s financial system. The Melbourne Institute of Applied Economics’ consumer inflation expectations index reading for May gained versus April, as consumers anticipate price gains over the coming year. Elsewhere, Bitcoin continued to rise, closing higher by 1.05% as El Salvador officially made the cryptocurrency legal tender, while Oil rose 0.28% as OPEC said that it expects crude demand to accelerate in the second half of the year.

To mark my 2325th 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 180 points yesterday and is now ahead by 914 points for June having made 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, 2273 points in December, 2025 points in November, 2779 points in October, 3042 points in September and 2383 points in August. 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.

 


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