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Gold Is Edging Higher Towards $2400 Psychological Level
Gold is bouncing back towards the $2400 psychological level after slightly weaker US macroeconomic data was released this week.Weaker inflation readings have helped gold bulls to come close to their all-time high once again. The other key macroeconomic data was also in favor of the yellow metal. Initial jobless claims came in slightly higher than expected at 222K (220K […]
Why Retreat
S&P 500 extended CPI advance, but was met with rejection – how serious is that? Too early to say whether that‘s the beginning of a protracted correction, but the procession of Fed speakers yesterday and today, must be taken into account.Together with 10y and 2y yields together with the dollar defending 200-day moving average, this […]
Elliott Wave Technical Analysis: Texas Instruments Inc. – Friday, May 17
Image Source: Unsplash TXN Elliott Wave Analysis Trading Lounge Daily Chart,Texas Instruments Inc., (TXN) Daily ChartTXN Elliott Wave Technical AnalysisFUNCTION: TrendMODE: ImpulsiveSTRUCTURE: MotivePOSITION: Minute {iii} or 3.DIRECTION: Upside in {iii}.DETAILS: Moving as expected, looking for at least equality of 3 vs 1, as we could turn into an ABC and many times equality of C vs. A is a […]
China Shock II Is Coming, The EU Will Be Hit Hard, Then The Us
Image Source: Pixabay Germany is feeling the pinch of China’s shock. But the US is on deck too. A global trade war looms.China ShockEurointelligence discusses China’s shock in its article Technology Is Why We Are Losing. We are not sure that the effect of high tariffs on Chinese electric cars will work quite as intended. We are […]
The Gold And Silver Ship Will Set Sail!
By Mike Maharrey, Money Metals ExchangeOver the last couple of months, gold has scaled record highs, peaking at over $2,430 an ounce before correcting and settling in the $2,300 range. That’s a healthy gain. But you could argue that gold remains significantly underpriced given the inflation we’ve experienced that continues to rapidly devalue the dollar.That leaves […]
Electricity Demand Is Surging On The Back Of Data Centers
The graph below shows that the price of electricity is surging. It has risen by about 8% annually over the last three years. Going back to 1955, there have only been three other price increases of a similar magnitude. The electricity inflation in 1973 and the early 1980s was related to the surging oil price […]
USD/JPY Recovers To 156.00 As US Dollar Bounces Back
Image Source: Pixabay USD/JPY rebounds sharply to 156.00 amid a firm recovery in the US Dollar. Fed officials one good inflation data as incapable for unwinding the restrictive policy stance. Japan’s weak GDP deepens fears of BoJ’s limited scope for policy-tightening. The USD/JPY pair extends its recovery to 156.00 in Friday’s European session. The asset strengthens as […]
Pink Drainer shuts down after dealing over $85 million in damage
Pink Drainer, the wallet-draining service responsible for over $85 million in stolen crypto, is shutting down. The shutdown was disclosed by ZachXBT through a Telegram post.At its height, the scam service impacted over 21,000 victims, according to a Dune analytics dashboaranalytics dashboar shared by Web3 anti-scam firm Scam Sniffer. “It is very likely that our […]
US Dollar Commentary – Friday, May 17
Image Source: Pixabay DXY recovering Following Inflation SellingFollowing the sell off on Wednesday, the US Dollar is busy recovering losses as we head into the weekend. Earlier in the week, April US CPI came in at 3.4% annualised, down from 3.5% prior, marking the first monthly decline in six months. The data has put fresh focus […]
Inflation Is Definitely Back In The United States
Inflation seems to be making a comeback in the United States, as shown by the core PPI figures, which indicate an increase in prices paid by manufacturers. The pulses observed on this indicator foreshadow an increase in prices paid by consumers, pointing to a further rise in the core CPI in the months ahead.In April, […]
