1 00:00:05,020 --> 00:00:27,098 Major European indices close moderately higher Modest gains/changes for most of the major indices Provisional closes are showing: In other markets as London/European traders look to exit: The commodity currencies are strongest with the NZD, AUD and CAD leading the way.   2 00:00:27,098 --> 00:00:46,456 Citi's FX playbook for non-farm payrolls Citi on Friday's data For bank trade ideas, . Citi discusses its expectations for the USD reaction around tomorrow's NFP report for the month of August. "As a frame of reference,. 3 00:00:46,456 --> 00:01:02,302 Food production in the UK at risk of moving overseas, warns industry A retail group warns the sector is under such strain that some food production may have to leave the UK. 4 00:01:02,302 --> 00:01:22,372 General Motors to Idle More Factories Because of Chip Shortage The automaker is suspending production of some of its most profitable vehicles.General Motors is suspending production at six North American plants for two weeks. 5 00:01:22,372 --> 00:01:40,163 House Committees Demand F.D.A. Records on Alzheimer’s Drug Approval The agency approved Biogen’s Aduhelm “despite concerns raised by experts,” committee leaders said in a letter. 6 00:01:40,163 --> 00:02:05,350 Oil nears one-month high after breaking $70 Demand hopes rise as delta fades. WTI up $1.80 to $70.40. The pace of US covid hospitalizations fell yesterday for the first time in this wave. Globally, cases are also showing more signs of a slowdown. 7 00:02:05,350 --> 00:02:24,476 Crude oil moves above $70 Breaks above a swing area near $69.62 Drilling down to the hourly chart, the move above the $69.64 area opened the door for the run higher and above the $70 level. 8 00:02:24,476 --> 00:02:47,451 Central banks back CBDC project to affirm sovereignty “Project Dunbar” could become the SWIFT of digital fiat currencies – if central banks can work together. The post Central banks back CBDC project to affirm sovereignty appeared first on Digital Finance. 9 00:02:47,451 --> 00:03:07,031 The next leg of energy inflation will come from natural gas Another tight US natural gas supply report The just-released EIA US natural gas storage showed a 20 bcf addition to supply, falling short of the 25 bcf expected. 10 00:03:07,031 --> 00:03:33,055 USDCAD remains under hourly moving averages Sellers leaned against the 200 hour moving average at the session highs The USDCAD moved sharply lower on August 20 August 23 and August 24. The price move took the pairs price from a high of 1.29483 to a low of 1.25778. 11 00:03:33,055 --> 00:03:49,362 China to rein in stars' salaries in media crackdown The regulator says it will shun actors with "effeminate" styles, punish tax evaders and limit reality shows. 12 00:03:49,362 --> 00:04:10,409 AUD/USD Breaks Out of Descending Channel to Trade Above 50-Day SMA AUD/USD may stage a larger recovery over the remainder of the week as the exchange rate trades above the 50-Day SMA (0.7375) for the first time since June. 13 00:04:10,409 --> 00:04:26,078 US July factory orders +0.4% m/m vs +0.3% expected US July factory orders data Revisions to durable goods: 14 00:04:26,078 --> 00:04:58,477 US dollar breaking lower New lows for the greenback vs the EUR, GBP, AUD and NZD EURUSD: The EURUSD has broken above the 1.18507 to 1.18568 swing area (see earlier post). The pair has entered into the upper extreme area going back to the end of July early August between 1.18568 and 1.19081. 15 00:04:58,477 --> 00:05:10,325 Mask Mandates Save Lives Who'd have thunk it? Those crazy doctors in operating rooms are on to something. Masks work. 16 00:05:10,325 --> 00:05:29,367 US dollar increasingly on the defensive ahead of non-farm payrolls A soft report could undo the dollar narrative The market is obsessed with the US jobs picture at the moment but it might have overlooked other signs of weakness in the US economy. 17 00:05:29,367 --> 00:05:45,028 Speak No Evil of the S&P 500's Neverending Records Investors buying stocks no matter what shouldn’t fool themselves that the future will deliver the chunky returns of the past decade. 18 00:05:45,028 --> 00:06:04,356 Gold Clarification Let me explain something. What I have pointed out about gold is that it DOES NOT rally merely because of inflation or the rise in debt. It will rally when we are looking at the collapse in confidence. 19 00:06:04,356 --> 00:06:24,438 NZDUSD moves above the 100 day MA But has the 200 day MA above The NZDUSD has moved the 100 day MA at 0.70803. That is a bullish development.  Stay above keeps the buyers in control. 20 00:06:24,438 --> 00:06:44,373 US equities set for a solid open Equities futures S&P 500 futures are pointing to a 12 point gain at the open. That will erase the late-day slide yesterday and but the index back within striking distance of all-time highs. 21 00:06:44,373 --> 00:07:07,295 What explains the drop in US auto sales? It depends on who you ask What's the story here? US auto sales fell to 3.01m in August in a drop from 3.43m the month before, according to the Dept of Commerce. The bad news is that it's about to get worse. 22 00:07:07,295 --> 00:07:28,009 Alibaba Pledges $15.5 Billion as Chinese Companies Extol Common Prosperity Push The e-commerce giant became the latest in a series of big Chinese companies to take up Beijing’s drive to bolster social equality. 23 00:07:28,009 --> 00:07:57,013 GBPUSD keeps the lid on the pair Stays below a swing area and the 200 day MA The GBPUSD traders have taken the pair higher today.  However, the price high (like yesterday and Tuesday) found willing sellers against overhead resistance defined by a swing area between 1.3790 and 1.38022 (see yellow area and red numbered circles).