The New Zealand Dollar recovers some ground as Wednesday’s Asian session begins, yet it remains hovering at around 0.5740 for the third straight day, below the 20-day Simple Moving Average (SMA).

The S&P just printed another all-time high. Six months of relentless buying….every dip defended within hours…retail traders rushing into calls every morning like clockwork.

We discuss Q4 macro and market outlooks, as well as where the biggest opportunities for investors right now.

The current risks are towards more ECB easing, but because medium-term risks are tilted to the upside, we think markets will remain firmly anchored around a 1.75% landing zone.

USA Rare Earth has been pulling back from its highs after a 175% rally from mid-September to mid-October.