-
Eye-watering CPI could force 75-100 bps hike from BOC, DXY mean reverts
US indices diverged today which saw the S&P 500 post a minor gain yet the Nasdaq selloff, after Netflix (NFLX) posted their first subscription drop in a decade. The stock fell as much as -38.4% overnight to eventually close down by around -30% during its worst day in nearly -decades. Europe was higher and the DAX broke out in line with our bias and reached our initial target at 14,360. This reaffirms our suspicions that the corrective low was seen at 13,887 and 14,600 now comes into focus for bulls. Volatility subsides in the commodity space Silver was effectively flat and closed on its 20-day eMA, whilst gold ... (full story)