11.10 Morning Briefing
BTC 74850, surged to 81522 after the election, then gave it all back, dipping to 73500. ETH 2200.
Trump said for the fifth time that if negotiations make progress, another attack on Iran is extremely unlikely. The Secretary of State said Iran's demands are completely unacceptable, but diplomacy is still on the table. An Iraqi delegation visited Iran to convey a message from the U.S.
October nonfarm payrolls far exceeded expectations, adding 165,000 jobs. Unemployment was 4.1%, and markets increased their bets on a December rate hike.
The dollar rose 0.75% to 102.31, and the 10-year yield was 4.856%. China's central bank increased its gold holdings for the 24th consecutive month, adding 830,000 ounces at the end of October. He Lifeng held a video call with Bessent and Greer.
The post-election rally was driven by falling oil prices and risk aversion. The strong jobs report pushed prices back down. Democrats took both chambers, slowing legislative progress, but interest rate expectations are now the main driver.
Hold 73500; if it breaks, watch 72000.
BTC 74850, surged to 81522 after the election, then gave it all back, dipping to 73500. ETH 2200.
Trump said for the fifth time that if negotiations make progress, another attack on Iran is extremely unlikely. The Secretary of State said Iran's demands are completely unacceptable, but diplomacy is still on the table. An Iraqi delegation visited Iran to convey a message from the U.S.
October nonfarm payrolls far exceeded expectations, adding 165,000 jobs. Unemployment was 4.1%, and markets increased their bets on a December rate hike.
The dollar rose 0.75% to 102.31, and the 10-year yield was 4.856%. China's central bank increased its gold holdings for the 24th consecutive month, adding 830,000 ounces at the end of October. He Lifeng held a video call with Bessent and Greer.
The post-election rally was driven by falling oil prices and risk aversion. The strong jobs report pushed prices back down. Democrats took both chambers, slowing legislative progress, but interest rate expectations are now the main driver.
Hold 73500; if it breaks, watch 72000.