U.S. Dollar Rally

Good Morning Everyone!

Good Morning Everyone! Remember, the most important meme stock on the planet reports today. Here's what analysts are saying about GameStop:  

SELL: 3 Wall Street Banks

HOLD: 1 Wall Street Banks

BUY: 12.5 million Wallstreetbets Apes

Prices as of 4 pm EST, 9/6/22; % YTD


Conference Season has begun (Goldman & Barclays today)

  • Some pre-announcements from conferences but certainly not all

  • Newell Brands NWL                  negatively pre-announced

  • Church & Dwight CHD             top line guidance cut

10yr       3.3%

  • 2 p.m. Fed Beige Book

  • Whisper number for the September 21 FOMC meeting is now 75-point hike

  • This shift from 50 to 75 points is helping drive the U.S. dollar higher

U.S. dollar to:

  • Euro                       1.01

  • Yen                        144.8

  • British pound     0.87

  • Canadian             1.32

Crude    86  (-1%)

  • U.S.

    • Joe Manchin’s plan to fast-track federal approvals of energy projects heads to Congress this month

  • China

    • China Trade was weaker in August with both imports and exports coming in below consensus.

    • China’s crude oil imports were 9.5 mm bbl, down 9.4% y-o-y

  • Russia

    • President Putin said that Russia would not supply crude oil, refined products or natural gas to any countries that introduce price caps on Russian Commodities

Apple AAPL

  • 1 p.m. iPhone 14 launch


Binance vs. USDC

  • Binance will stop supporting stablecoin USDC

  • USDC = world’s 2nd largest stablecoin

  • BNB (Binance stablecoin) = 3rd largest

Yesterday’s sell-off sparked highest BTC liquidations since August 2018

BTC’s BTC/USD put/call ratio is elevated while ETH’s ETH/USD is moving down

These are the tickers dominating the news headlines:

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