June 2024 - Page 205 of 240 -

USD/CAD Forecast: Loonie Slips As BoC Rate Cut Looms

Jun 05, 2024 Jeremy Parkinson Finance, No picture 0

The USD/CAD forecast paints a bullish picture with the Canadian dollar on the back foot ahead of the BoC policy meeting, where markets believe there will be a rate cut. Meanwhile, the dollar was weak after a series of poor data and ahead of crucial service sector numbers.After months of speculation, the time has come […]

Sensex Today Rallies 2,303 Points; Nifty Above 22,600 Mark

Jun 05, 2024 Jeremy Parkinson Finance, No picture 0

After opening the day on a positive note, Indian share markets continued the momentum as the session progressed and ended on a firm footing.Benchmark equity indices Nifty50 and Sensex rebounded on Wednesday after posting their worst day in over four years in the previous session.At the closing bell, the BSE Sensex stood higher by 2,303 points (up […]

ADP Payrolls Unexpectedly Tumble To Lowest Since January As Wage Growth Continues Slowing

Jun 05, 2024 Jeremy Parkinson Finance 0

Extending the recent trend of unexpectedly weak labor market indicators, moments ago ADP reported that in May, the US added just 152K Private Payrolls, a 36K drop from the March (downward revised) number of 188K (originally 192K) to the lowest number since the 111K reported in January…… and far below the median consensus of 175k.Under the […]

Gold Analysis: Selling Pressure Despite Weak US Dollar

Jun 05, 2024 Jeremy Parkinson Finance, No picture 0

Gold futures fell as financial markets digested the latest jobs data and witnessed a rebound in the US dollar. Overall, gold prices have reversed their gains since the start of the trading week, with investors expecting a choppy pattern in the coming sessions ahead of the May jobs report. Gold prices have pulled back to […]

Bring On Those Cuts

Jun 05, 2024 Jeremy Parkinson Finance, No picture 0

S&P 500 refused to decline below Monday‘s lows – as rate cut odds went up much again, it took a while to recover from poor JOLTS. As Powell opened the door lately (to rate cuts) on unexpected weakness in the labor market if it materializes, we‘re getting there slowly, and Friday is non-farm payrolls and […]

Vitalik Buterin critiques celebrity memecoin trend, outlines criteria for respectable projects

Jun 05, 2024 Jeremy Parkinson Cryptocurrency, No picture 0

Ethereum co-founder Vitalik Buterin has expressed his dissatisfaction with the recent surge of celebrity memecoin releases.Buterin argued that the goal of a project should be to provide value to society and leave participants feeling satisfied and happy to have been involved, even if the tokens eventually become worthless. Buterin’s comments came in response to a […]

Is The Bond Market Rethinking The Outlook For Rate Cuts?

Jun 05, 2024 Jeremy Parkinson Finance, No picture 0

Here we go again. After yesterday’s news that US job openings fell to a three-year low in April, the data fueled the incentive for the bond market to reassess the view that the Federal Reserve will keep interest rates higher for longer.The catalyst for what may be the start of a new phase in market […]

Elliott Wave Technical Analysis: Analog Devices Inc. – Wednesday, June 5

Jun 05, 2024 Jeremy Parkinson Finance, No picture 0

Image Source: Pexels ADI Elliott Wave Analysis Trading Lounge Daily Chart,Analog Devices Inc., (ADI) Daily ChartADI Elliott Wave Technical AnalysisFUNCTION: TrendMODE: ImpulsiveSTRUCTURE: MotivePOSITION: Minor 3. DIRECTION: Top in 3. DETAILS: We are looking at Minor wave 3 unfolding nicely on the way up, an we are now finding support on the end of MG1 at 230$ as we hit equality […]

New Zealand Dollar Shows Stability Amid US Economic Concerns

Jun 05, 2024 Jeremy Parkinson Finance, No picture 0

Image Source: Unsplash The NZD/USD pair is stable, consolidating around 0.6189 on Wednesday. The New Zealand dollar maintains a sideways trend and appears relatively robust in the current market environment.Recent pressure on the US dollar, triggered by disappointing employment statistics, has led to speculation that the US Federal Reserve might reduce interest rates after the September […]

Softening Indeed, Wednesday, June 5

Jun 05, 2024 Jeremy Parkinson Finance, No picture 0

“If you put the federal government in charge of the Sahara Desert, in 5 years there’d be a shortage of sand.” – Milton Friedman depositphotos This morning, we’re seeing a modestly positive tone in equity markets as treasury yields have barely moved. The risk-on mentality can be seen in Bitcoin where prices cracked back above $70K yesterday […]