Denis Joeli Fatiaki
Independent Analyst
In this analysis, we meticulously examine the recent performance of the Nasdaq 100 and US 500 indices to gauge their strength and determine whether the current trend can be sustained.
By evaluating key indicators and price action, we aim to provide insightful guidance to traders and investors, equipping them with the knowledge to navigate the market confidently.
Our analysis serves as a compass, illuminating the potential outcomes and market dynamics that may unfold in the coming trading sessions.
By analyzing the performance of these major indices, we provide traders and investors with valuable insights into what to expect and how to position themselves strategically in light of the prevailing market conditions.
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EUR/USD hits fresh daily lows under 1.0500
EUR/USD continued to face downward pressure and matched last week's low at 1.0487. It is hovering around 1.0500, as the US Dollar remains strong, supported by higher Treasury yields. The 10-year Treasury yield reached 4.70%, a level not seen since 2007.
GBP/USD drops to six-month lows, eyes 1.2100
GBP/USD retreated further and dropped to 1.2107, hitting the lowest since mid-April. The pair remains under pressure amid higher US Treasury yields, following better-than-expected ISM September Manufacturing PMI data.
Gold approaches $1,800 as demand for the USD prevails Premium
Spot Gold fell to a fresh multi-month low of $1,827.11 a troy ounce on Monday amid resurgent US Dollar demand. The Greenback suffered a minor setback at the beginning of the week, as generally encouraging Chinese data and upbeat United States (US) news underpinned the mood.
Three altcoins that have kickstarted Q4 rally: LINK, RDNT, FLOKI
Crypto market volatility seems to be making a comeback with the start of 2023’s fourth quarter , and some altcoins are already making headway. Chainlink (LINK), Radiant Capital (RDNT) and Floki Inu (FLOKI) are some cryptos that are showing aggressive upside moves.
NIO contracts 2% as Tesla delivery decline weighs on EV sector
Nio (NIO) stock dropped 2.3% on Monday morning despite meeting its quarterly delivery target for the third quarter. Tesla's (TSLA) Q3 production and delivery decline is the culprit.