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I show You how To Make Huge Profits In A Short Time With Cryptos!

Merkado Barkada

October 21, 2024 | 9:29am

Feels like uncharted territory to be this far above 7,000 without any clear headwinds. There aren’t any clear tailwinds either, though, which is enough to get me nervous. But I’m excited about the possibilities in the Q3 earnings data.

> PH:  We don’t have anything on the schedule, except for the payment of that Philippine National Bank [PNB 27.00 ?1.1%; 28% avgVol] stock dividend to a miniscule percentage of the total number of eligible recipients.

> INT’L:  Pretty quiet on the international front as well. We have a rate decision from the Bank of Canada on Thursday morning, and then a US jobless claims report on Friday.

MB BOTTOM-LINE:  Canada and the Philippines both saw their central banks pivot before the US Federal Reserve, so I’m interested to see if Canada will continue cutting and how aggressively it will do it. Their inflation rate fell to 1.6% in September, which has analysts calling for a chonky 50 basis point cut. Our inflation isn’t that low, but it isn’t materially different in that it surprised to the low side and gave our central bank the theoretical room to do more. Don’t look now, but spot gold prices just punched through $2,700/oz and Bitcoin is inching up toward the ?4 million mark again. Gold analysts are thinking about $2,941/oz sometime in the next 12 months. 

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