American Express Wave Analysis – 29 August 2025

American Express: ⬆️ Buy

- American Express broke resistance zone

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Silver Wave Analysis – 29 August 2025

- Silver broke the key resistance level 39.50

- Likely to rise to resistance level 41.00

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🗓 Economic Calendar at 2025/08/31 (GMT)

01:30 🇨🇳 ⚡️ Manufacturing PMI — Exp: 49.5 Actual: 49.4

01:30 🇨🇳 Non-Manufacturing PMI — Exp: 50.3 Actual: 50.3


[Updated in real time]

⚠️ China — Manufacturing PMI at 03:00 GMT

✔️ Prev: 49.3

🕒 Exp: 49.5

🎯 Fact.: 49.4 📉

🗓 Economic Calendar at 2025/09/01 (GMT)

01:45 🇨🇳 Markit Manufacturing PMI — Exp: 49.9 Actual: 50.5

07:50 🇫🇷 Manufacturing PMI — Exp: 49.9 Actual: 50.4

07:55 🇩🇪 Manufacturing PMI — Exp: 49.9 Actual: 49.8

08:00 🇪🇺 Manufacturing PMI — Exp: 50.5 Actual: 50.7

08:30 🇬🇧 Manufacturing PMI — Exp: 47.3 Actual: 47.0


[Updated in real time]

The crypto market continues to send alarming signals

The cryptocurrency market capitalisation has fallen by 3.4% over the past seven days to $3.74 trillion, its lowest level in three and a half weeks. The total capitalisation chart continues to record a series of lower lows, signalling a downward trend. A break below the 50-day moving average reinforces this signal, confirming the medium-term downward trend.

The sentiment index, at 46, is easily touching fear territory. It fell to 39 at the start of the day on Saturday, the lowest level since the end of April. Given how often cryptocurrencies are the first to react to changes in investor sentiment, such a dip looks like a harbinger of difficult weeks ahead for stocks.

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🇺🇸 US pre-market

📉 The US stock market is experiencing negative dynamics in pre-market trading.

In the Electronic Technology sector, NVIDIA (NVDA) shares are down -1.16%, and AVGO (AVGO) shares are down -0.57%.

In the Finance sector, JPMorgan Chase (JPM) shares are up +0.36%, and Bank of America (BAC) shares are up +0.18%.

In the Consumer Goods sector, Procter & Gamble (PG) shares are up +0.47%, while Coca-Cola (KO) shares are up +0.80%.

The market is showing mixed movements, but the predominance of declines among the largest technology companies is contributing to increased capital outflows and could put pressure on the US dollar.

Gold may be targeting $4,500, silver $50

Precious metals have returned to active growth, pushing the spot price of gold to $3,490—just $10 below its historic high of 22 April. Meanwhile, silver has decisively moved above $40, its highest level in 14 years.

The news agenda continues to favour metals, with reports that India is now actively selling US government bonds, building up its gold reserves. China did the same before, and Russia even earlier. However, this may turn out to be nothing more than a glimpse into the past, cleverly picked up by the global media. It should also be remembered that years of net sales of gold reserves did not initially prevent gold from rallying. This could also work in the opposite direction: the actions of finance ministers and central banks may not have a very noticeable long-term effect.

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🗓 Economic Calendar at 2025/09/02 (GMT)

09:00 🇪🇺 Consumer Price Index — Exp: 2.0% Actual: 2.1%

09:00 🇪🇺 Consumer Price Index - Core — Exp: 2.2% Actual: 2.3%

13:30 🇨🇦 S&P Global Manufacturing PMI Actual: 48.3

13:45 🇺🇸 Manufacturing PMI — Exp: 53.3 Actual: 53.0

14:00 🇺🇸 ⚡️ ISM Manufacturing PMI — Exp: 48.9 Actual: 48.7


[Updated in real time]

Gold Wave Analysis – 1 September 2025

- Gold broke resistance zone

- Likely to rise to resistance level 3500.00

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AUDJPY Wave Analysis – 1 September 2025

- AUDJPY broke daily Down Channel

- Likely to rise to resistance level 97.30

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Market regime change: Microsoft weakening whilst Alphabet strengthens

Nvidia and OpenAI have become synonymous with the AI revolution, each offering its own breakthrough solutions. This has made Nvidia the most valuable company on the market. OpenAI remains private for now. However, the old guard of IT giants, such as Microsoft and Alphabet, are not standing on the sidelines of the AI race, although they are conducting it in different ways, which is affecting their shares differently.

Microsoft owns a stake in OpenAI, giving it access to the latest developments, but integrates them into its own programmes, including chatbots. For a long time, betting on Microsoft was an indirect bet on OpenAI with their well-known ChatGPT. This approach paid off earlier this year, as the share price recovered faster than many competitors after the April slump. From its lows at the start of April to its highs at the end of July, the stock soared 55%, already making its way to historic highs since the beginning of June.

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🇺🇸 US pre-market

📉After a long weekend, the US stock market is experiencing extremely negative dynamics in pre-market trading.

In the Electronic Technology sector, NVIDIA (NVDA) shares are down −2.82%, and AVGO (AVGO) shares are down −2.62%.

In the Financial sector, Berkshire Hathaway (BRK.B) shares are up +0.16%, while Bank of America (BAC) shares are down −0.97%.

In the Consumer Discretionary sector, Tesla (TSLA) shares are down −2.34%, and in the Retail sector, Amazon (AMZN) shares are down −2.03%.

Widespread sell-offs in large companies could accelerate capital outflows and put pressure on the dollar.

⚠️ USA — ISM Manufacturing PMI at 03:00 GMT

✔️ Prev: 48.0

🕒 Exp: 48.9

🎯 Fact.: 48.7 📉

Debt market drives currencies again: sterling is the victim of the day

The British pound led the decline among major currencies on Tuesday, as the jump in long-term government bond yields brought the issue of fiscal discipline back into focus. Investors are paying attention to growing public debt and the unsustainability of this path.

Yields on 30-year UK government bonds reached their highest level since 1998, but this did not attract buyers, only triggering a wave of flight from British assets. This caused a 1.5% decline in GBPUSD and a 1% decline in FTSE100. Incidentally, the latter has lost its sixth consecutive trading session, falling 2.5% from its historic high.

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Gold broke out of its tedious range

Gold has reached a new all-time high thanks to growing trade uncertainty, the Fed's willingness to cut rates, and central banks' intentions to step up their bullion purchases. The precious metal found the strength to break out of the medium-term consolidation range between 3250 and 3400 dollars per ounce, where it had spent most of its time since April.

Expectations of a Fed policy easing in September created the necessary tailwind for gold. However, the main catalyst for the rally was the Federal Appeals Court's ruling that Donald Trump's tariffs were illegal. International trade plunged into chaos, and demand for safe-haven assets rose. That is when Gold retook the reins.

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