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EUR/USD Bull Run Ignites Day-Trader Frenzy – Gold Soars & Fed Cuts Loom, But Trading Remains “A Very Lonely Sport”

EUR/USD Bull Run Ignites Day-Trader Frenzy – Gold Soars & Fed Cuts Loom, But Trading Remains “A Very Lonely Sport”

Market overview: Risk-on after Fed hints. Global markets were buoyed mid-week by better-than-feared news. U.S. bank and tech earnings beat estimates, sending all three U.S. indexes higher on Oct 15 ts2.tech. TechStock² reports the S&P 500 and Nasdaq set new all-time highs, helped by Morgan Stanley, Bank of America and Salesforce beating forecasts ts2.tech investopedia.com. Luxury stocks also jumped (LVMH +14%) on Chinese demand signs ts2.tech. In currency markets, the U.S. dollar weakened markedly. TS2.tech notes the Dollar Index fell to ~98.7, and EUR/USD rose to ~$1.1645 as Fed officials (like Gov. Bowman) reiterated expectations of further easing ts2.tech. Convera’s Oct
Bull Run or Bubble? Investors Eye New Highs as EUR/USD Rallies and Fed Prepares Cuts

Bull Run or Bubble? Investors Eye New Highs as EUR/USD Rallies and Fed Prepares Cuts

Global markets were buoyed this week by better-than-feared news on several fronts. After a rough September, U.S. bank earnings beat estimates: Morgan Stanley and Bank of America both delivered upside surprises, which helped calm trade-war jitters reuters.com. European stocks likewise rallied, led by luxury companies: LVMH reported positive third-quarter sales and its shares surged as much as 14%, the biggest one-day rise since 2001 reuters.com reuters.com. European indices (Stoxx 600, FTSEurofirst 300) closed higher by ~0.6% reuters.com. As Stefan Bauknecht of DWS observes, the luxury data “surprised investors positively and are likely to keep the sector’s share price momentum alive”
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