RFEU - Nervous Calm Hangs Over The Markets
2024-06-25 08:10:00 ET
Summary
- The US labor market may be at an inflection point.
- The high-flying Nvidia has fallen 13% in the past three sessions coming into today.
- Gold is little changed near $2333 and its trading in the upper end of yesterday's narrow range.
Overview
San Francisco Federal Reserve President Daly spoke aloud what many are thinking. The US labor market may be at an inflection point. The four-week moving average of weekly jobless claims is at the highest since last September and the early call for July nonfarm payrolls is about 185k, which, if true, would be a sub-200k reading for the second time in three months. The high-flying Nvidia ([[NVDA]], [[NVDA:CA]]) has fallen 13% in the past three sessions coming into today. The 10-year US Treasury yield ( US10Y ) is near its Q2 trough (~4.20%). European political uncertainty and the threat of Japanese intervention are also factors. The dollar is narrowly mixed today is +/- 0.1% against most of the G10 currencies. It is consolidating in about a 25-tick range around JPY159.45. The euro is little changed, and the French 10-year premium over Germany is near its lowest level in more than a week....
Nervous Calm Hangs Over The Markets