02 November 2023 – 09:01 Central Euro Time

Post-Fed the EuroCurrencies are getting a bid, both the Euro and Swiss Franc at present above their respective Neutral Zones for today, as is Copper; the other BEGOS Markets are within same, and volatility is light-to-moderate. Silver confirmed its “Baby Blues” (see Market Trends) moving below the key +80% level, indicative of lower prices near-term: we are eying 22.18 (current is 23.10) barring geo-political price-rise resumption. As the S&P 500 works through Q3 Earnings Season, with 318 constituents having thus far reported, 65% have bettered their bottom lines from a year ago; however more broadly, only 52% have improved. For the Econ Baro, today’s incoming metrics include the initial read of Q3 Productivity and Unit Labor Costs, plus September’s Factory Orders.