U.S Indices closed weak but well – off intra-day lows led by technology weakness and Dollar strength. Investors continued to rotate out of risky assets heading into the three-day weekend. A U.S Dollar rally means that U.S.-made goods cost more in other currencies, possibly weighing on growth. This has been the case over the past two days, as other global central banks have said they may need to weaken their currencies. There were also stimulus headlines, with members of Congress talking down the chances of a deal before the November election. Economic data was positive, with Non-Farm Payrolls beating estimates. And the Unemployment rate fell to 8.4%. This continued the recent strength in the rebound for the job market. The NASDAQ 100 ended Friday with a loss of 1.27%, a nice rebound off its earlier 5% loss. European Markets rose, before selling off with U.S Markets in a repeat of Thursday’s price action. The European Central Bank is under increasing pressure to respond with more stimulus to support the economy as the Euro has weakened against the dollar. Banks rallied on a Reuters report that Spain’s Caixabank SA and Bankia SA are considering a merger to create the largest lender in the country. Bank of England Monetary Policy Committee member Michael Saunders said there is a good chance additional stimulus measures will be needed to support the economy. French Finance Minister Bruno Le Maire said the country could extend its support programme for furloughed workers beyond 2020 if needed. Elsewhere, Oil closed 4.48% lower as investors sold Crude Assets to raise cash to cover margin calls.
To mark my 2125th 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 firstname.lastname@example.org for details
For anyone following my Platinum Service it made 550 points on Friday and is now ahead by 194 points for September, having made 2383 points in August, 3128 points in July, 2580 points in June, 2456 points in May, 4773 points in April, an incredible 9264 points in March, 2223 points in February and 2142 points in January. Since I started this New Platinum Service in June 2015 it has averaged a monthly gain of over 1600 points
I have a YouTube Channel which contains recent interviews I have given This can be viewed by clicking HERE Please subscribe to this for new interview notification