Magic Compass

Review Gold Holds Above 5-Day MA, But Bullish Momentum May Falter

The market remains in a “celebration mode” centered on the Feds potential rate cuts, driving rallies across gold, long-term Treasuries, and equities. However, we remain concerned that weakness in the

Review Worsening Economic Outlook: Market Rallies May Be Short-Lived

Market OverviewU.S. initial jobless claims surged to 263,000 last week, the highest level in four years. The data highlighted further weakness in the labor market and fueled expectations of a Fed rate

Review U.S. End Demand Fails to Absorb Price Increases, Corporate Profit Margins Likely Past Their Peak

The U.S. Producer Price Index (PPI) for August showed a monthly decline of -0.1%, while core PPI rose 0.3%. Breaking it down, the services PPI fell -0.2%, whereas the goods PPI edged up 0.1%. This ind

Review PPI Data Reinforces Rate-Cut Expectations; U.S. Treasuries, Crude Oil, and LME Copper Hit Fresh High

Market OverviewU.S. producer price index (PPI) data released yesterday further strengthened market expectations for rate cuts, fueling broad gains across risk assets and bonds.Equities delivered a mix

Review Gold Pulls Back From Highs: FOMO or Just a Pause Before Another Rally?

According to the FedWatch Tool, markets still price in a high probability of three rate cuts this year, with a 25 bps cut in September unchanged. This suggests optimism around the U.S. labor market re

Review Tech Stocks Lead Gains as Treasuries and Gold Retreat from Highs

Market OverviewU.S. nonfarm payrolls were sharply revised lower in the annual benchmark adjustment, reinforcing expectations for a Fed rate cut and lifting major tech names. The Nasdaq notched another