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Elliott Wave Technical Analysis Day Chart: Euro/British Pound – Wednesday, Nov. 15

Elliott Wave Technical Analysis Day Chart: Euro/British Pound – Wednesday, Nov. 15

Photo by Colin Watts on Unsplash   EURGBP Elliott Wave Analysis Trading Lounge Day  Chart, 15 November 2023Euro/British Pound(EURGBP) Day ChartEURGBP Elliott Wave Technical AnalysisFunction: Counter TrendMode: corrective  Structure: FlatPosition: Black wave 2Direction Next Higher Degrees: black wave 3Details: after blue wave 5 of 1 corrective wave 2 is in play and likely to end between fib level 50.00 […]
Elliott Wave Technical Analysis 4 Hour Chart: Euro/British Pound – Wednesday, Nov. 15

Elliott Wave Technical Analysis 4 Hour Chart: Euro/British Pound – Wednesday, Nov. 15

Image Source: Unsplash  EURGBP Elliott Wave Analysis Trading Lounge 4 Hour Chart, 15 November 2023Euro/British Pound(EURGBP) 4 Hour ChartEURGBP Elliott Wave Technical AnalysisFunction: Counter TrendMode: corrective  Structure: FlatPosition: Black wave 2Direction Next Higher Degrees: black wave 3Details: after blue wave 5 of 1 corrective wave 2 is in play and likely to end between fib level […]
Crude Oil Futures: Some Consolidation Emerges On The Cards

Crude Oil Futures: Some Consolidation Emerges On The Cards

CME Group’s flash data for crude oil futures markets noted traders reduced further their open interest positions on Tuesday, this time by around 6.7K contracts. On the other hand, volume went up by around 57.4K contracts after three consecutive daily pullbacks.  WTI remains supported at around $75.00WTI prices charted an inconclusive session on Tuesday. The vacillating […]
US Beef Prices Hit Record High As Nation’s Cattle Herd Expected To Shrink Through 2025

US Beef Prices Hit Record High As Nation’s Cattle Herd Expected To Shrink Through 2025

Brazilian processor Marfrig Global Foods SA warned the US cattle herd will continue shrinking through the midpoint of the decade. Less supplies will pressure meatpackers and keep the prices of steak and hamburgers at elevated levels. Freepik During a conference call, Tim Klein, the head of Marfrig’s North American operation, explained the availability of fattened animals for meatpackers to slaughter […]
Sensex Today Rallies 500 Points; Phoenix Mills Surges 8%

Sensex Today Rallies 500 Points; Phoenix Mills Surges 8%

Asian share markets rallied on Wednesday as risk assets and investor sentiment around the world soaring after cooling US inflation data on Tuesday looked to close the door on more rate hikes.The Nikkei is trading 1.9% higher while the Hang Seng index gained 2.4%. The Shanghai Composite is trading 0.5% higher.US stocks posted their biggest […]
China: People’s Bank Of China Injects More Cash To Support The Weak Economy

China: People’s Bank Of China Injects More Cash To Support The Weak Economy

Despite leaving the one-year medium-term lending facility (1Y MLF) at 2.5%, the PBoC injected a net CNY600bn (over and above amounts falling due) to help support stimulus spending, raising thoughts that perhaps they may also tap other policy tools such as required reserves in due course.Freepik More funding will help activity to recoverAhead of the monthly deluge […]
Market Briefing For Wednesday, Nov. 15th

Market Briefing For Wednesday, Nov. 15th

Progress in disinflation is reinforced by the ‘official’ CPI report, which this market loved, and which we anticipated. However, I dispute both the influence of health insurance (The Government says 0.5% of influence on consumers) and who are they kidding, it’s major higher than that, even with Medicare or whatever.FreepikNevertheless, we’re starting to get enough […]
SPDR ETF Report For Tuesday, November 14

SPDR ETF Report For Tuesday, November 14

Image Source: PixabayIn this video, Ira Epstein reviews the day’s trading in various SPDR-ETF markets for the trading day just ended, Tuesday, November 14.Video Length: 00:15:43More By This Author:Financial Markets Report For Tuesday, November 14 Metals Report For Tuesday, November 14 SPDR ETF Report For Monday, November 13
Silver Price Analysis: XAG/USD Eyes Above $23.20 As Fed Seems Done With Hiking Interest Rates

Silver Price Analysis: XAG/USD Eyes Above $23.20 As Fed Seems Done With Hiking Interest Rates

Image Source: Pixabay Silver price aims to climb above $23.20 amid easing US price pressures. The USD Index fell sharply due to the risk-off mood. Silver price recovered strongly after discovering buying interest near 61.8% Fibo retracement at $21.86. Silver price (XAG/USD) refreshes weekly high near $23.20 as inflation in the United States softened at a higher pace in […]
Good News For The Bank Of England As Services Inflation Falls Further Than Expected

Good News For The Bank Of England As Services Inflation Falls Further Than Expected

Image Source: PixabayServices inflation has undershot the Bank of England’s forecast for October, and that all but rules out any more tightening this year. We expect services inflation to fall back to the 3.5-4% area next summer and that would be a catalyst for rate cuts to begin.To no great surprise, UK inflation plunged in October […]