Traders are facing choppy conditions in US stocks as markets digest a slew of earnings reports from different companies. Indices were down on Wednesday in anticipation of poor sales reports, particularly in the technology sector, but in the end the fears were overblown. Tesla (TSLA) stock gained a massive 22% on Thursday following stellar third-quarter earnings; United Parcel Service (UPS) enjoyed a 5.3% rise on similarly positive sentiment; other major tech stocks remained stable. IBM on the other hand fell over 6% following a mixed report and Honeywell (HON) shed 5.1% after slashing its sales outlook. After all was said and done, the Dow Jones was unable to end its losing streak, losing another 0.3% yesterday and sustaining a fourth consecutive daily loss. The S&P 500 closed 0.2% in the black, in no small part thanks to the aforementioned Tesla surge. The Nasdaq Composite fared even better, climbing 0.76% and recovering from the bulk of Wednesday’s rout.

Of course, stock markets are not isolated entities, intertwined as they are with their respective currencies. The Dollar took a step back yesterday as market participants try to figure out what the Federal Reserve has in store. Many are beginning to accept that future rate cuts will be harder to come by than initially thought. The last 50 basis point cut appears to have been a one-off event. The Fed is not the only factor at play however: the US election is now less than two weeks away. Betting markets are currently favouring a Trump victory, although such a result is not heavily priced in at this point. A bullish case for the USD could be made for either candidate, but then of course there is also the third possibility of an unclear or even disputed result. The election will likely occupy the centre stage until its conclusion, at which point we can expect attentions to turn back to talk of rate cuts, China stimulus and the ongoing sell-off in bonds, among other elements.

The US Dollar shows no mercy. The relentless rise of the Greenback finally seemed to abate last Friday, but alas it wasn’t to be. The DXY hit the ground running on Monday to gain another half percent, bringing it back up to 104 and fully erasing the late summer slump. The Yen has borne the worst of the Dollar’s strength. Indeed, the USDJPY pair has now climbed back over 150 – a l evel which already prompted government intervention earlier in the year. The Euro isn’t faring much better, losing $1.08 yesterday for the first time since early August. All eyes on the Canadian Dollar later today however as the Bank of Canada is expected to lower rates on the Loonie for the fourth time this year.

Gold and silver are having a whale of a time. Good old Aurum gained over 1% yesterday to reach a new all-time high of $2,748 an ounce. Argentum still has a long way to go before reclaiming its old record high but that didn’t stop it from continuing its recent ascent. The grey metal gained another Dollar yesterday to come within touching distance of $35. As a quick history lesson, silver almost hit $50 an ounce in both 1980 and in 2011 but has not come close since.

It's earnings season for US stock markets, with Tesla (TSLA), Coca Cola (KO) and IBM all reporting later today, to name but a few. The Nasdaq Composite is now getting closer to its previous record high after having spent the last two months recovering from the August crash. The Dow Jones and S&P 500 are also poised just below their own, much more recent all-time highs.

Gold exploded out of the gate last Friday to blast straight to a new record high. Piggybacking off the momentum that had sustained it throughout last week, the precious metal gained over 1% to settle just shy of $2,722. As central bank liquidity begins to pour, the safe haven asset appears all too happy to soak up the excess cash. With so much attention on gold, one could be forgiven for overlooking the arguably more momentous move from silver, which gained a staggering $2 on Friday to close at $33.7 an ounce. For context, we would need to turn our clocks all the way back to December 2012 to see such prices.

The Dollar finally allowed itself a moment of respite since beginning its October crusade. Over the past three weeks, the DXY has risen mercilessly from 100.5 all the way up to 103.5 as markets rebalance around predicted interest rate differentials. The European Central Bank has been relatively aggressive in lowering rates on the Euro this year – last Thursday marking the third cut since May. The Federal Reserve on the other hand has only adjusted rates on the Dollar once. Judging by the tone of the respective heads of each central bank, the gap between the two is more likely to widen than to narrow. Although still two and a half weeks away, FedWatch is massively pricing in a mere 25 bps cut in November.

Still no end in sight to the woes facing oil markets. Chinese demand forecasts continue to paint a bleak picture, as do those of many other parts of the world. There has been no resolution in the Middle East as of yet, however there are some emerging signs of mitigation between the various conflicting parties.

The economic calendar is looking particularly barren this week. Speeches from several Fed board members as well as the ECB president may provide some entertainment, but the first real tradeable event – the Bank of Canada interest rate decision – will not occur until Wednesday. Manufacturing and services PMIs litter the latter half of the week, among equally mundane publications.

As widely predicted, the European Central Bank lowered interest rates on the Euro for the third time this year. Interestingly, yesterday’s decision marked the first back-to-back cut in over a decade, perhaps indicative of a growing sense of urgency to address the Eurozone’s poor economic performance over the past couple of years. The latest intervention brings the overall target rate down to 3.4% and the consensus among analysts is that this is likely to be further lowered over the next six months. Inflation fell below the central bank’s 2% target last month, which will allow the ECB greater manoeuvrability moving forward.

Despite the move being heavily telegraphed, the Euro fell a further 0.3% yesterday, bringing the common currency down to $1.083. The Dollar currency index rose again during Thursday’s session, bringing it back up to levels not seen since early August. As we move closer to the US presidential election, now less than three weeks away, markets can expect electoral politics to play a greater part in affecting currency markets.

Better-than-expected economic data in the US contributed to the Dow Jones establishing yet another record high yesterday. Retail sales rose 0.4% month-on-month in September and last week’s jobless claims came in at just 241k compared to predictions of 260k. On the other side of the Pacific, Chinese economic figures made for good reading this morning. Unemployment rate, industrial production, retail sales and GDP all beat expectations, although it remains to be seen whether the data will be enough to ease investor fears.

The ability to deposit USDT has been one of the more popular additions to our services at RADEX MARKETS. Here’s how to get in on the action.

For those unfamiliar with such matters, USDT is what is known as a stablecoin. A stablecoin is a type of cryptocurrency that is tethered to the value of a fiat currency, in this case the US Dollar. Essentially, USDT is a synthetic version of the Dollar that can be transacted on a blockchain. This offers a unique blend of advantages, such as the ability to conduct cross-border payments very quickly, but without the problem of large price fluctuations.

Sending USDT is very straightforward, but there are a couple of factors to keep in mind when depositing it with RADEX MARKETS.

After navigating to the deposit page, the first hurdle that users are likely to encounter is the following:

What’s the difference? TRC20 and ERC20 refer to token standards within the Tron and Ethereum ecosystems respectively. USDT is not confined to one single blockchain, it is accessible via several different networks. At RADEX MARKETS, we offer users the option to deposit USDT with both the Tron and Ethereum networks. Clicking on TRC20 will provide a deposit address on the Tron blockchain, whereas clicking on ERC20 will provide a deposit address on the Ethereum blockchain. Simply make sure the deposit address matches the network you wish to use.

The next part is self-explanatory:

Choose the deposit account, enter the desired deposit amount, input the address you intend to send the transaction from and click “submit”.

Almost there. The client portal will now provide you with an exact deposit amount, as well as a specific deposit address. We promise the extra decimals aren’t there just to be annoying - they do in fact serve a purpose. The six digits after the decimal point act as an identifier that will help us process your transaction as quickly as possible.

This is where things can get a little tricky. When sending cryptocurrencies, there are transaction fees involved. Users must make sure these fees are accounted for when sending USDT. It is imperative that the amount received by RADEX MARKETS matches the amount given above.

The transaction fee will depend on a variety of factors, not least the platform used to send the funds. Some platforms may charge a flat fee, others may vary depending on network congestion. Unfortunately, this part falls outside of our remit and is the sole responsibility of the user. Failure to match the amounts will most likely result in a more laborious process that may require us to ask for more information about the deposit.

Once the deposit has been successfully completed, there is no need to hold onto the payment address. Subsequent deposits will usually provide an unrelated address for users to interact with.

Another strong start to the week for the Dollar. The DXY gained 0.3% on Monday and appeared comfortable holding the 103 level during yesterday’s session. The strength is reflective of the overwhelming expectation of a mere 25 basis point cut during the next Fed meeting. It has to be said that the next meeting is still three weeks away however, so the prediction isn’t exactly baked in.

Rates on the Euro are expected to be slashed another 25 bps during the ECB meeting tomorrow, bringing the target rate down to 3.4%. For comparison, rates on the Greenback are still 5% and the differential is beginning to weigh on the common currency. EURUSD closed below 1.09 yesterday, the worst daily close since early August. The Australian Dollar is also feeling the pressure, its status as a commodity currency coupled with poor global manufacturing forecasts are beginning to take their toll. USDAUD challenged 1.50 this morning but has since retreated.

Speaking of commodities, gold gained half a percent yesterday, bringing the precious metal up to $2,662 an ounce – a hair’s breadth below its record high. Despite no real resolution in the Middle East, oil prices experienced a significant drop this week, with Brent Crude back down to around $74 a barrel.

The poor manufacturing outlook hit the semiconductor industry hard on Tuesday, leading many tech stocks to take a beating. ASML Holding (ASML) plummeted an impressive 16.3% after accidentally publishing their quarterly earnings report a day early, revealing dismal bookings and sales forecasts. Not wanting to be left out, AMD and NVidia (NVDA) also joined in on the action by falling 5.2% and 4.7% respectively. The Nasdaq Composite closed 1% lower during Tuesday’s session and the Dow Jones and S&P 500 weren’t far behind with 0.75% drops of their own.