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GBP/USD Forecast: Dollar Recovers After Fed’s Remarks
The dollar strengthened on Wednesday, casting a shadow of bearishness on the GBP/USD forecast as traders contemplated the likelihood of an impending US interest rate hike. Meanwhile, investors were anticipating remarks from Federal Reserve Chair Jerome Powell later.On Tuesday, Fed Governor Christopher Waller highlighted the remarkable third-quarter US economic growth as a factor to monitor […]
Elliott Wave Technical Analysis: Exxon Mobil Corp. – Wednesday, November 8
Exxon Mobil Corp., Elliott Wave Technical AnalysisExxon Mobil Corp., (XOM): 4h Chart, 8 November 23XOM Stock Market Analysis: We have been looking at a potential wave 2 as we have been moving lower in what seems to be a corrective move. Looking to find support soon as we approach invalidation level at 100$.XOM Elliott Wave Count: Wave {y} of […]
The Bank Of England Is Thinking About Cutting Rates Next Year
Image Source: Pixabay As of Tuesday’s stock market close, the Dow Jones Index (US30) added 0.17%, while the S&P 500 Index (US500) increased by 0.28%. The Nasdaq Technology Index (US100) closed positive by 0.90% on Tuesday. The S&P 500 (US500 and Nasdaq (US100) indices hit 3-week highs yesterday, while the Dow Jones (US30) updated a one-month-high. But by the end of the trading day, the indices […]
U.K. Market Commentary – Wednesday, Nov. 8
Image Source: Pixabay GBP Under PressureFollowing a sharp break higher on Friday, GBPUSD has since run into heavy selling pressure and is now fast approaching a full reversal of last week’s gains. The shift in sentiment comes on the back of a report earlier in the week suggesting that the UK is already in recession. Bloomberg […]
Real Rising Wages Are No Cure-All, As The Hungarian Retail Sector Can Confirm
Image Source: Unsplash The volume of retail sales stagnated in September despite the possible return of positive real wage growth. And that could be an indication of how long the road to normalization will take.Retail sales in Hungary aren’t getting significantly better. Based on the September figures, retail trade volumes were essentially unchanged, and the Year-on-Year […]
Teen Jobs Rise In October 2023
The employment situation for American teens picked up in October 2023.Adjusted for seasonality, the number of working Age 16-19 year olds increased over September 2023’s level, from 5,570,000 to 5,685,000. Within the teen population, the increase was concentrated among older teens (Age 18-19), while younger teens saw a smaller tick upward.At the same time, the […]
Oil And Gasoline Prices Are Falling Fast
Photo by Timothy Newman on Unsplash Oil and gasoline prices are falling fast. While that sounds like a good thing, it is anything but. The energy market is coming to grips with the renewed downturn and recession. Big moves for the WTI curve and global bonds. It’s not September any longer.Video Length: 00:18:04More By This Author:Hedge Funds Have […]
FX Daily: Quiet Data, Loud Fed Help Dollar Rebound
The data calendar remains quiet across developed markets, but we are hearing more from central bankers. Fed speakers have delivered hawkish comments, emphasising the fight against inflation and keeping options open for December. Expect more pushback against dovish bets as Powell takes the stage today and tomorrow: the USD recovery may have more to run.Freepik USD: […]
Natural Gas Futures – Further Downside In Store
CME Group’s flash data for natural gas futures markets noted traders increased their open interest positions for the fifth consecutive session on Tuesday, this time by around 1.8K contracts. In the same direction, volume rose for the second day in a row, now by more than 26K contracts. Natural Gas: A revisit of $3.00 emerges […]
Elliott Wave Technical Analysis Day Chart: British Pound/Australian Dollar – Wednesday, Nov. 8
Photo by Colin Watts on Unsplash GBPAUD Elliott Wave Analysis Trading Lounge Day Chart, 8 November 2023British Pound/ Australian Dollar(GBPAUD) Day ChartGBPAUD Elliott Wave Technical AnalysisFunction: Counter TrendMode: CorrectiveStructure: FlatPosition: black wave 2Direction Next lower Degrees:black wave 3 Details: Blue wave C of Black wave 2 is in play(wave 2 as Flat) . Wave Cancel invalid level: 1.99759The “GBPAUD Elliott […]
