The Macro Brief - 8 September 2025
You will come across specific terms in these notes (FLD, VTL, and so on). Rather than explain them each time, you will find definitions here: guidance notes for Hurst cycles terminology.
The Macro Brief is a brief excerpt from our weekly Macro Outlook newsletter. Today we are highlighting an important instrument to watch because the peaks in this instrument are often sharp and form quickly. The instrument is Gold.
General outlook: US Dollar one push down to 80 day cycle trough. Gold 40 day cycle peak zone. Oil looks like 80 day trough zone. USDJPY struggling. EUR last push then down. SPX e-minis question-mark over 80 day trough location. Bitcoin 80 day cycle trough a little lower but close. Treasuries near 80 day peak then down.
Gold - still in 40 day cycle peak zone. Top/Down.
Gold pushed higher than expected, but still nearing a 40 day cycle peak zone. The next trough is due in the second week of September. Top/Down.
