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Archives by Year:
XAUUSD Commodity Elliott Wave Analysis – Thursday, May 16
Gold Elliott Wave Analysis Function – Trend Mode – Impulse Structure – Impulse wave Position -Wave 5 Direction – Wave 5 is still in progress Details – Impulse breakout for wave 5 progresses. Upside is still favored. Same interpretation as the previous one. The invalidation level is below 2276.After three weeks of correcting its long-term bullish […]
The Australian Labor Market Is Starting To Cool Down
Image Source: Pexels At Wednesday’s close, the Dow Jones (US30) Index increased by 0.88%, while the S&P 500 (US500) Index was up 1.17%. The Nasdaq Technology Index (US100) closed positive 1.41%. All three indices hit all-time highs yesterday. Stocks rose on lower bond yields after US consumer prices declined as expected. In addition, reports on the US retail sales, the Empire Manufacturing Index, […]
The Commodities Feed: IEA Sees Weaker Demand
Oil prices have edged higher despite the IEA revising lower its global demand growth forecasts. Instead, US macro data has provided support to the oil market. Energy – growing divergence between OPEC & IEA demand numbersOil prices edged higher yesterday. ICE Brent managed to settle 0.45% higher on the day and this strength has continued in […]
Daily Market Outlook – Thursday, May 16
Image Source: Pexels Equity markets in the Asia-Pacific region continued to rise, reflecting the positive momentum in US and European markets. The latest US data, which showed a slow start to Q2 for retail sales and no surprises in April CPI inflation, played a key role in this trend. As a result, there is now a […]
Two Trades To Watch: USD/JPY, DAX Forecast
Image Source: Pixabay USD/JPY falls post-CPI & with jobless claims up next US CPI & retail sales fall raising rate cut expectations Japan’s Q1 GDP -0.5% QoQ vs 0% in Q4 2023 USD/JPY falls below 155.00 USD JPY is falling for a second straight session after the cooler-than-expected US CPI and retail sales reports and despite […]
Thoughts For Thursday: New Highs Are Here
New highs are here. The stock market interpreted the “positive” CPI data as a sign for lower interest rates down the line and the market took off global unrest seemingly of no concern to investors. depositphotos Wednesday the S&P 500 closed at 5,308, up 61 points, the Dow closed at 39,908, up 350 points and the Nasdaq Composite […]
Fed’s Powell Avoids Rate Cut Talk While April CPI Keeps Hope Alive
Federal Reserve Chair Jerome Powell made a timely appearance in Amsterdam for a meeting of the Foreign Bankers’ Association. It was the day before the release of the April CPI report, so Powell’s commentary set the stage and an immediate context for interpreting the April results. Powell expressed no enthusiasm for rate cuts, but he also […]
PayPal’s stablecoin PYUSD joins BVNK’s crypto payment ecosystem
BVNK, a payment infrastructure provider, has announced the integration of the PayPal USD (PYUSD) stablecoin, issued by Paxos Trust Company, into its payment system. This move allows businesses to access PYUSD on BVNK’s platform, which supports a variety of digital and fiat currencies.In addition, as an approved member of the PYUSD ecosystem, BVNK can directly […]
The S&P Breaks Out To New All Time Highs And The Technicians Declare Victory
The S&P broke out to a new all time high Wednesday on the back of a mostly inline April CPI Report. Here’s what Patrick Dunuwila of The Chart Report had to say: SPY broke out to a new all time high [today] for the first time since March 28. This officially marks the end of [the] pullback […]
Sensex Today Trades Higher; Auto Stocks Drag
Asian markets traded higher on Thursday following record close in Wall Street indices overnight and as investors assessed Japan GDP data.Japan’s Nikkei 225 gained 0.9%, while the Topix rose 0.54%.The US stock market ended higher with all three major indexes notching record closes on Wednesday after slower growth in inflation.Here’s a table showing how US […]
