Limit Up! 28th February 2025

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Overnight

US GDP Price Index jumped whilst jobless claims were 20k more than expected, jolting equity markets that had been buoyed by positive NVIDIA announcements. The sea of red pushed down Gold and Bitcoin, adding to the unease.

Breaking

Tariffs on China Risk Hurting US Economy More Than Data Suggest [Bloomberg]

US Attorney General hopes to release Epstein-related flight logs, names on Thursday [Reuters]

Fed’s Logan: Discount-window loan auction facility may encourage banks’ readiness [investing.com]

Trump:

• I will not comment on whether China should not take Taiwan by force.
• Ukraine can "forget about" joining NATO.

Precious Metals

Even Gold lost a lot of ground but has tagged the middle of the uptrend channel so may find some support there.

Bonds

10 year JGBs retraced to the scene of the crime and have bounced, as inflation data is digested by the markets.

Foreign Exchange

Confirming yesterday's comment, the Aussie has broken out of the bear flag and looking to head lower.

Bitcoin

A bounce in BTC didn't last long as poor economic data and general sentiment drove equity markets lower.

Equities

The NVIDIA positive results didn't last long as US equity markets ended in a sea of red.

Economic Indicators Today