EUR/USD
1.15851
-0.300%
Gold
4019.35
-1.657%
Oil
59.712
-0.060%
USD/JPY
155.199
0.435%
GBP/USD
1.31489
-0.141%
GBP/JPY
204.075
0.294%
Real-time News
According to the Daily Telegraph, British Chancellor of the Exchequer Reeves is considering raising the tax rate on bank profits.The VIX fear index rose by 15% to 22.85.On November 18th, analyst Adam Button stated that since the "Tariff Day" lows, the market has generally stabilized after each dip, followed by buying on dips. Once a rebound begins, momentum takes over. However, this hasnt been the case recently. Since late October, market movements have been intermittent. Momentum has been present at times and absent at others. I think this is entirely due to anxiety triggered by hyperscale cloud computing companies ahead of Wednesdays Nvidia (NVDA.O) earnings report, but I also worry that its due to market expectations of the Federal Reserve tightening monetary policy. What puzzles me is that the market didnt start selling after Powell stated on October 30th that another rate cut in December was unlikely, which should have been a signal. Instead, the market continued to spend two weeks pricing in the possibility of a December rate cut. It wasnt until last week that the market finally grasped the message that the probability of a December rate cut had dropped to 36%. All of this suggests that the current price action doesnt look good, and its worth noting that there were no news events driving todays decline.New York silver futures touched $50 per ounce, down 1.36% on the day.Hang Seng Index futures closed down 0.72% at 26,178 points in overnight trading, a discount of 206 points.