Dale J Pinkert
Independent Analyst
Dale discussed The Russell outperforming the SPY. SPX can break out over 3900 targeting 4100-4200. Mike reviews and trades his positions.
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EUR/USD stabilizes above 1.0500 as risk mood improves
EUR/USD regained its traction and climbed back above 1.0500 in the American session on Wednesday. The improving risk mood, as reflected by rising US stocks, and mixed macroeconomic data releases from the US weigh on the USD and help the pair push higher.
GBP/USD retraces daily advance, holds above 1.2100
GBP/USD reversed its direction and declined toward 1.2100 after rising to a daily high of 1.2177 earlier in the day. Despite the disappointing ISM Services PMI data for September, the US Dollar managed to pull away from session lows following a mixed opening in Wall Street.
Gold drops below $1,820 as US yields gain traction
After rising above $1,830 in the early American session, Gold price reversed direction and turned negative on the day below $1,820. Following mixed macroeconomic data releases from the US, the benchmark 10-year US yield recovered from daily lows and weighed on XAU/USD.
ETH staking could gain short-term preference over bonds despite record yields
The Ethereum staking market has experienced a notable surge, according to data from StakingRewards. In the past 24 hours, the number of staked ETH increased by 32.8%.
Rise in job openings sends DJIA plunging as Treasury yields soar
The DJIA opened higher on Wednesday, up 0.2%, as traders test whether Tuesday’s crash was overdone. The market is now digesting the first time in history that a US Speaker of the House was voted out of office and how that will affect current budget talks.