9-24

 From Mizuho” The past four days have seen the biggest strengthening of the dollar versus its peers since the March turmoil, as measured by the Bloomberg dollar spot index.”   The Euro touched a 2 month  low this morning even though German Business Climate, IFO touched a 7 month high of 93.4 even though strong it did miss expectations of 93.8..Speaking of Currencies Turkish central bank  surprised forecasters by raising  rates by 200 bps today in an attempt to  halt the depreciation of  her currency

 Year to date SPX is +.19% 3230 ish unchanged for the year Nasdaq +18.5% YTD

  A bit of Risk off continues for the markets, a possible shift from Buy the dips  to press the dips may be  occurring. Copper below support -1.9% today all markets or most markets were in sideways range for past month and it appears all are breaking out to the downside, Dollar to upside. Some flagging up a Powell comment from yesterday as another reason to worry in an answer to a question he said  that “We have done basically all of the things we can think of”  .More reliant on Fiscal stimuls  which likely isn’t coming anytime soon

 Markets

 Silver -3.5% Gold -.5%,Platinum -1.7%,European Bourses sideways to lower, Nasdaq -.95%,Spoos -.3%.Roller coaster Nat gas continues today +5%  as  a bit below possibly much below temps blanket eastern half of country according to 6-10 forecast. Weekly jobless  claims unchanged from last week markets paying little attention  Nasdaq -14% over last 3 weeks  sentiment is changing . Numerous fed speakers again today .. FTSE -1%,Stoxx 50 -.7%

News

  • JPMorgan is nearing an agreement to pay a fine of about $1 billion to settle civil and criminal charges that its traders rigged futures and securities markets, wrapping up several investigations into whether they manipulated prices for metals and Treasury securities. The proposed agreement wouldn’t jeopardize JPMorgan’s ability to operate in certain markets, a person familiar with the matter said.  WSJ
  • https://cnn.it/2G1599V
VIA WSJ

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