Ualifi Araújo
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Bullish
The Economic data just came out a little while ago, let's take a look at them...
1. US GDP (Q2, preliminary)
Current: +3.3%
Projection: +3.0%
Previous: -0.5%
Here is where the riddle is again, despite coming in above what the projection was and still demonstrating a strong economy (we don’t want that), it didn’t come much beyond what the projection was, so, no one is really going to care about it... Of course, we can say that Powell always goes deep into this whole story and etc., but we already know that Powell does Politics and doesn’t care much about the data!
Anyway, I believe that the difference between the projection and what came in will be ignored by the market, whether it will be ignored by Powell, I don’t know, but by the market makers here, it will!
2. Initial Jobless Claims
Current: 229K
Projection: 231K
Previous: 234K
Here is where IN MY opinion the thing came out of what the behind-the-scenes wanted, but STILL it will serve. We still have this heated up and this is not what we would like to see, it would be good on the projection, but it still came in below.
The data is reasonable, no one expected a bed of roses anyway, so, it will serve and we will push the weight of the data to tomorrow. The market should remain green as it has been since early. Our Asian friends did a good job here!
The NY opening will digest the data.
We still have the Federal Reserve Balance Sheet in the late afternoon, give some importance to this when the time comes! 🤝🏻🫂
1. US GDP (Q2, preliminary)
Current: +3.3%
Projection: +3.0%
Previous: -0.5%
Here is where the riddle is again, despite coming in above what the projection was and still demonstrating a strong economy (we don’t want that), it didn’t come much beyond what the projection was, so, no one is really going to care about it... Of course, we can say that Powell always goes deep into this whole story and etc., but we already know that Powell does Politics and doesn’t care much about the data!
Anyway, I believe that the difference between the projection and what came in will be ignored by the market, whether it will be ignored by Powell, I don’t know, but by the market makers here, it will!
2. Initial Jobless Claims
Current: 229K
Projection: 231K
Previous: 234K
Here is where IN MY opinion the thing came out of what the behind-the-scenes wanted, but STILL it will serve. We still have this heated up and this is not what we would like to see, it would be good on the projection, but it still came in below.
The data is reasonable, no one expected a bed of roses anyway, so, it will serve and we will push the weight of the data to tomorrow. The market should remain green as it has been since early. Our Asian friends did a good job here!
The NY opening will digest the data.
We still have the Federal Reserve Balance Sheet in the late afternoon, give some importance to this when the time comes! 🤝🏻🫂
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