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BOJ Speculation Unwound, Taking The Yen Lower
Image Source: Pixabay Overview: The busy week of central bank meetings is off to a mostly slow start. The dollar is narrowly mixed in quiet turnover, except against the Japanese yen. Many participants seemed to exaggerate the risks of a BOJ move next week and the dollar continued its recovery that began ahead of the weekend. Among […]
Elliott Wave Technical Analysis: Costco Wholesale Corp. – Monday, Dec. 11
Image Source: Unsplash Costco Wholesale Corp., Elliott Wave Technical AnalysisCostco Wholesale Corp., (Nasdaq: COST): 4h Chart 11 December 2023COST Stock Market Analysis: We have been monitoring the upside in Costco as we seemed to have a group of waves 1-2 nesting. We are now looking at a count that suggests Minute wave {ii} is in place […]
Euro Shows Temporary Stability
Image Source: Pixabay The Euro’s recent stabilization against the US dollar, now hovering around 1.0766, may be short-lived. Market eyes are turning towards the upcoming two-day meeting of the US Federal Reserve, starting Tuesday and concluding late Wednesday. Key attention will be on the interest rate decision, widely anticipated to hold steady at 5.50% annually.Investor focus […]
EUR/JPY Approaches 158.00 As Markets Reassess BOJ Tightening Hopes
Image Source: Pixabay The Yen dives as BoJ officials talk down hopes of an imminent exit of its ultra=-oose policy Higher US Yields after the strong US NFP are adding negative pressure on the Yen. EUR/JPY is seen below 150.00 at the beginning of next year – MUFG. The Yen is dropping across the board on […]
Central Bank Week
Image source: Pixabay Are you ready for some central bank decisions? Besides the Fed, which will announce its latest decision on rates this Wednesday, we will also get policy decisions from Brazil, Taiwan, Switzerland, Norway, the UK, the Eurozone, Mexico, Peru, and Russia this week. Then, next Monday Japan will join the fray. Along with the Fed, we’ll have a […]
Oil Is Stable, While Natural Gas Slips Below $2.30 Level
Oil chart analysisThe price of oil is in a three-day bullish trend from the previous low to the $68.77 level. During the Asian trading session, we saw a continuation of the bullish consolidation and a move up to the 71.80 level. We stop at that level and begin a pullback to the $71.20. The oil […]
The Week Ahead: Nov CPI & The Fed, COST Earnings: A Membership Fee Increase?
While the Fed is done hiking rates for this cycle, my concern last weekend was that Powell may still try to talk “higher for longer” in his press conference on Wednesday due to the strong recent moves in financial markets. But that may depend on the November CPI report due out Tuesday at 8:30 am EST. The CPI […]
Futures Flat As Yields Jump And Yen Plunges
US equity futures are flat while global markets posted only modest moves at the start of a busy week of economic data and central bank meetings that will test optimism among investors that interest rates will soon head lower. As of 7:55am ET, S&P500 futures contracts fell just under 0.1%, off the session’s lows, while Nasdaq futures were also modestly […]
Chart Of The Day: MicroStrategy – Analytics Software
Image Source: DepositPhotos The Chart of the Day belongs to the analytics software company MicroStrategy (MSTR). I found the stock by using Barchart’s powerful screening functions to find stocks with the highest technical buy signals, highest Weighted Alpha, superior current momentum, and having a Trend Seeker buy signal then used the Flipchart feature to review the charts for […]
Natural Gas Forecast: Continues To Defy Season
Freepik The natural gas markets saw a modest rally during Friday’s trading session, with traders mounting a defense of the critical 61.8% Fibonacci level following a harsh downturn. These markets have grappled with the challenges posed by looming recessionary pressures, leading some to question whether the demand for natural gas will dwindle. Nevertheless, as we approach the […]
