🇺🇸📊 MACRO UPDATE — FRIDAY, OCTOBER 23
We now have the key economic data released today in the U.S.
🏭 MANUFACTURING PMI
🟢 Current: 56.0
🔹 Forecast: 55.4
🔹 Previous: 55.9
👉 Beats expectations and confirms industrial expansion.
🏢 SERVICES PMI
🟡 Current: 57.9
🔹 Forecast: 57.9
🔹 Previous: 58.8
👉 Meets forecasts, although it reflects a slowdown compared with the previous month.
👥 CONSUMER CONFIDENCE — MICHIGAN
🟢 Current: 48.0
🔹 Forecast: 46.3
🔹 Previous: 46.3 (preliminary)
👉 Improves on the initial reading, although confidence remains weak.
⚠️ IMPLICATIONS FOR OUR TRADING
📈 USD: Slightly positive reading due to economic resilience.
📊 Nasdaq / S&P 500: Mixed signals. Economic strength is positive, but may reduce expectations of a more dovish Fed.
🥇 Gold: Could come under pressure if the dollar and bond yields rise.
🎯 SUMMARY: The U.S. economy continues to show resilience, especially in manufacturing, although consumers remain under pressure.
#EarningsSeason $BTC
We now have the key economic data released today in the U.S.
🏭 MANUFACTURING PMI
🟢 Current: 56.0
🔹 Forecast: 55.4
🔹 Previous: 55.9
👉 Beats expectations and confirms industrial expansion.
🏢 SERVICES PMI
🟡 Current: 57.9
🔹 Forecast: 57.9
🔹 Previous: 58.8
👉 Meets forecasts, although it reflects a slowdown compared with the previous month.
👥 CONSUMER CONFIDENCE — MICHIGAN
🟢 Current: 48.0
🔹 Forecast: 46.3
🔹 Previous: 46.3 (preliminary)
👉 Improves on the initial reading, although confidence remains weak.
⚠️ IMPLICATIONS FOR OUR TRADING
📈 USD: Slightly positive reading due to economic resilience.
📊 Nasdaq / S&P 500: Mixed signals. Economic strength is positive, but may reduce expectations of a more dovish Fed.
🥇 Gold: Could come under pressure if the dollar and bond yields rise.
🎯 SUMMARY: The U.S. economy continues to show resilience, especially in manufacturing, although consumers remain under pressure.
#EarningsSeason $BTC