Equity markets shook off the US government shutdown and pushed to fresh all-time highs, as investors bet that the shutdown would be short-lived. The extension of the equity rally, fueled by an apparent AI bubble, has reached dangerous levels, exceeding the pre-Dot-Com bubble. The labor market continues to weaken rapidly, as measured by the ADP…
Equity markets shook off the US government shutdown and pushed to fresh all-time highs, as investors bet that the shutdown would be short-lived. The extension of the equity rally, fueled by an apparent AI bubble, has reached dangerous levels, exceeding the pre-Dot-Com bubble. The labor market continues to weaken rapidly, as measured by the ADP…
The GBP/USD exchange rate held steady on Thursday as the US dollar retreat continued. It jumped to a high of 1.3485, continuing a trend that started when it bottomed at 1.3325.
The EUR/USD exchange rate was unchanged on Thursday morning as market participants waited for more information on the ongoing government shutdown in the United States. It was trading at 1.1730, a few pips below the highest point this week.
Bitcoin price jumped to the highest level since August as investors predicted that more gains would happen in the so-called Uptober. It also happened as the government shutdown pushed more people to the coin.. The BTC/USD pair rose 117,550, up by almost 10% from the lowest level in September.
The US dollar initially did try to rally a bit during the earlier part of the session on Wednesday but then fell significantly as we could not hang above the 200 day EMA for very long. We fell pretty significantly, but we are starting to see the US dollar find some value hunting. I think…