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Tesla stock drops after Musk Twitter poll

“A lot of people get so enmeshed in the markets that they lose their perspective. Working longer does not necessarily equate with working smarter. In fact, sometimes it is the other way around.” - Martin Schwartz

 

 

HEADLINES

 

 

  • Dollar slips from 15-month highs as investors eye Fed, data
  • USD has room to strengthen as focus moves back to relative FX stories – HSBC
  • Gold up 3rd Day in Row at September Highs
  • U.S. infrastructure bill ‘screams bullish for oil’ as crude futures post back-to-back session gains
  • Wall Street edges higher on U.S. infrastructure bill
  • Tesla shares ease after Twitter users vote for Musk to sell stock

 

 

FOREX

 

 

Dollar slips from 15-month highs as investors eye Fed, data

 

The dollar dipped on Monday after hitting 15-month highs on  Friday following strong U.S. jobs data, as investors digested the report and the Federal Reserve's plans to start reducing its bond purchases this month. On Wednesday the Fed stuck to its view that current high inflation is expected to be transitory and said it would start trimming its massive bond-buying program this month, but wait for more job growth before raising interest rates.

 

USD has room to strengthen as focus moves back to relative FX stories – HSBC

 

“The FX market has returned to the ‘relative’ stories once again where the outlook for the Fed’s monetary policy remains in contrast to that for other central banks, for example, the very dovish guidance being provided by the ECB. The case for the EUR as a funding currency (which often has a low-interest rate) continues to build. As such, we expect the EUR to underperform the USD in the months ahead.”

 

 

COMMODITIES

 

 

Gold up 3rd Day in Row at September Highs

 

Is gold finally on the cusp of a breakout? It appears to be so, with the yellow metal settling up a third day in a row at September highs of nearly $1,830 an ounce. What’s more, this came as Treasury yields actually rose — typically a negative for gold — although a weaker dollar actually proved supportive for bullion.

 

U.S. infrastructure bill ‘screams bullish for oil’ as crude futures post back-to-back session gains

 

Oil futures rose on Monday, bouncing back from last week’s losses to post back-to-back session gains, as investors cheered passage of a $1 trillion U.S. infrastructure spending package and Saudi Arabia lifted prices for crude exports.

 

 

STOCKS

 

 

Wall Street edges higher on U.S. infrastructure bill

 

Wall Street stocks edged higher on Monday, as investors cheered the passage of a U.S. infrastructure spending bill, but gains were limited by falling Tesla shares. All three major U.S. stock indexes pared early gains but the S&P 500 and the Nasdaq remained on course to extend their run of all-time record closing levels to eight straight sessions.

 

Tesla shares ease after Twitter users vote for Musk to sell stock

 

Tesla Inc. shares edged lower on Monday as investors prepared for its chief Elon Musk's proposed sale of about a tenth of his holdings in the electric-car maker following his Twitter poll. Musk, the world's richest person, tweeted on Saturday that he would offload 10% of his stake if users of the social media network approved the proposal. The Twitter poll asking Musk's followers if he should sell stock garnered more than 3.5 million votes, and 57.9% of the people voted "Yes"

 

 

CHART

Euro / Japanese yen - Daily Candlesticks

 

Source: GKFX Prime Metatrader 4

EUR/JPY has dropped back towards major resistance turned possible support at 130.50. The level coincides with the 200 DMA just below - Prepared by Trading Writers*

 

 

CALENDAR

 

 

*Times in GMT

 

Source: FX Street Economic Calendar

 

SOURCE

 

 

https://www.fxstreet.com/economic-calendar
https://www.reuters.com/article/usa-stocks/us-stocks-wall-street-edges-higher-on-u-s-infrastructure-bill-tesla-drags-idUSL1N2RZ20C
https://www.investing.com/news/commodities-news/gold-up-3rd-day-in-row-at-september-highs-2672087
https://www.reuters.com/business/tesla-shares-fall-after-musks-twitter-poll-backs-stake-sale-2021-11-08/
https://www.reuters.com/article/global-forex/forex-dollar-slips-from-15-month-highs-as-investors-eye-fed-data-idUSL1N2RZ1B4
https://www.marketwatch.com/story/u-s-infrastructure-bill-screams-bullish-for-oil-as-crude-futures-rise-11636378923

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