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Hello Traders,
Thanks to those of you who joined us today. I should reiterate that the Monday Market Update is just that. A big picture overview of the markets, with a few 'charts of interest' thrown in. There are no trade recommendations, this is not a signal service, nor trade recommendations - just what I am looking at and interested in.
The Monday Market Update for October 28, 2024, highlighted key market trends and upcoming events. Sterling remains strong, with the UK budget on Wednesday expected to be significant. The US dollar is gaining strength, influenced by upcoming economic data and the US election. The Japanese yen weakened post-election, impacting the Nikkei. Oil prices dropped 5% due to Israel's military strike on Iran. Major tech companies like Amazon, Google, Microsoft, Meta and Apple are preparing for earnings, with potential volatility expected. Gold, silver, and Bitcoin remain strategic buys. The market is expected to be highly volatile in the coming weeks due to these events.
Today we looked at; FX STAM, Amazon.com ($AMZN), Alphabet Inc ($GOOG), Microsoft Corp. ($MSFT), Tesla Inc ($TSLA), and Boeing Company ($BA).
We also covered the usual suspects: $DJIA, $NDX, $SPY, $RTY, $DAX, $FTSE, $N225, $WTI, $XAUUSD, $XAGUSD, $BTCUSD, $USD, $DXY, $JPY, $AUD, $CHF, $NZD and $GBP.
Have a great trading week, and I’ll see you next Monday at 1230.
Trade well,
Paul
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