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Sensex Today Trades Higher; Nifty Above 24,400
Asian equities fell as fresh signs of slowing US inflation bolstered rate cut bets and spurred a rotation out of big tech stocks on Wall Street. The yen was volatile. Japanese shares fell more than 1%.The S&P 500 and Nasdaq both fell Thursday (July 11), snapping a multiday run of records as investors pivoted towards […]
Investment In The Gold Sector On The Rise Again
In China, silver premiums continue to reach historically high levels:An ounce of silver now trades at a premium of around 15%.This pricing divergence between the Chinese and London markets has enabled silver to avoid sharp corrections over the past two years.What’s more, the premiums on gold between these same markets have been the main cause […]
What Rome’s Currency Debasement Tells Us About The Future Of The US Dollar
Well, here’s an interesting historical repeat. Apparently, it took the Roman Empire about 200 years to reduce the value of its currency, the silver Denarius, by 95%. As shown in the chart below, the silver content of the Roman currency had been nearly 100% at the peak of the Empire in 65 AD, but by 268 AD […]
FX Daily: Japan May Have Changed Its Intervention Strategy
Image Source: Unsplash The US CPI hit the dollar across the board yesterday, but one move stood out: the 2% drop in USD/JPY. While officials are not admitting it, more than one media report suggests the MoF intervened in the FX market after the US CPI release. That would mark a change in strategy by the […]
Now The Market Just Needs The Rate Cuts
There is clearly something magical in seeing an inflation measure carry a negative sign. The U.S. Bureau of Labor Statistics reported inflation data for June, and it included a -0.1% change in the Consumer Price Index (CPI) from May to June.Source: U.S. Bureau of Labor Statistics, Consumer Price Index for All Urban Consumers: All Items […]
NZD/USD Consolidates Around 0.6100 As Traders Await US Data
Image Source: Pexels NZD/USD remains stable as traders await key economic data from the United States (US). The Business NZ Manufacturing PMI fell to 41.1 in June, marking the 15th consecutive month of contraction. The US Consumer Price Index declined by 0.1% MoM in June, marking its lowest level in over three years. NZD/USD hovers […]
Elliott Wave Technical Analysis: British Pound/U.S. Dollar – Friday, July 12
Photo by Colin Watts on Unsplash GBPUSD Elliott Wave Analysis Trading Lounge Day ChartGBPUSD Day Chart AnalysisElliott Wave Technical AnalysisFunction: Trend Mode: Impulsive Structure: Navy Blue Wave 3 Position: Gray Wave 3 Direction Next Higher Degrees: Navy Blue Wave 3 (Continue) Details: Navy Blue Wave 2 looking completed, now Navy Blue Wave 3 is in play. Wave Cancel Invalid Level: 1.26113The GBPUSD Elliott Wave Analysis on the […]
USD/CHF Weakens Below 0.9000 Ahead Of US PPI Data
Photo by Claudio Schwarz on Unsplash USD/CHF trades in negative territory near 0.8960 for the second consecutive day on Friday. Traders raised their bets on Fed rate cuts in September after the softer-than-expected June US CPI inflation report. The speculation that the SNB will cut further interest rates might cap the pair’s downside. The USD/CHF pair trades on a […]
Should Investors Buy JPMorgan Or Citigroup’s Stock As Q2 Earnings Approach?
The heart of the Q2 earnings season is upon us with several big banks set to report their quarterly results on Friday, July 12.Wall Street will be closely monitoring JPMorgan’s (JPM – Free Report) results as the largest bank in the United States but also paying close attention to Citigroup (C – Free Report) which is the third largest domestic bank. […]
Ethereum Price Faces A Mountain Of Risks; 50% Drop Likely
Image Source: Pixabay Ethereum price faces numerous risks in the market. It has formed several bearish chart patterns, including a double top. It also faces numerous fundamental risks like competition. Ethereum price has been under pressure in the past few weeks even as the hopes of a spot Ethereum ETF approval rose. The ETH token has remained in […]
