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FX Daily: Look At The Decimals
Image Source: Unsplash Our call is for a consensus 0.2% MoM core CPI in the US today. But markets should react to the decimal places before rounding, and the distribution of economists’ estimates suggests expectations may be slightly skewed towards a higher number. The dollar can keep trimming gains – although a rally in EUR and […]
Elliott Wave Technical Analysis: U.S. Dollar/Swiss Franc – Thursday, July 11
Photo by Claudio Schwarz on Unsplash USDCHF Elliott Wave Analysis – Daily ChartOverviewThe USDCHF Elliott Wave analysis on the daily chart provides insight into the current market trend and wave structure.Trend Identification Function: Trend Mode: Impulsive Structure: Orange wave 3 Position: Navy blue wave 1 Current Analysis Details: Orange wave 2 appears to be completed. Currently, orange wave 3 is in play. Invalidation Level: 1.88270 […]
USD/CHF Edges Lower Below 0.9000, US CPI Data Looms
Image Source: Pixabay USD/CHF loses momentum around 0.8995 in Thursday’s early European session. Fed’s Powell said the case for interest rate cuts is becoming stronger as inflation data showed some modest further progress. Political uncertainty in Europe and globally might boost the safe-haven flows, benefiting the CHF. The USD/CHF pair trades with mild losses near 0.8995, snapping the […]
3 Key Reports To Watch This Earnings Season
Image Source: PixabayThe Q2 earnings season is just around the corner, with the big banks kicking the period into a much higher gear starting this Friday with their results. The overall earnings picture has remained stable leading up to the period, with Tech expected to deliver another big showing.Of course, there are some worthy reports that […]
Elliott Wave Expects Gold Miners ETF To Continue Rally
Image Source: UnsplashShort Term Elliott Wave View in Gold Miners Junior (GDX) shows that cycle from 10.4.2023 low is in progress as a 5 waves impulse Elliott Wave structure. Up from 10.4.2023 low, wave 1 ended at 32.35 and pullback in wave 2 ended at 25.67. Wave 3 higher ended at 37.47 and dips in wave 4 […]
Cocoa Grinding Estimates Suggest Demand Destruction Nearing
Photo by Rodrigo Flores on UnsplashWith cocoa prices hovering over $8,000 a ton in New York, the long-anticipated demand destruction for cocoa is finally approaching. New estimates indicate that global bean processing likely declined in the second quarter. According to six analysts and traders tracked by Bloomberg, second-quarter global grindings—where cocoa transforms into butter and powder used in food products—likely fell from […]
SPDR ETF Report For Wednesday, July 10
Image Source: PixabayIn this video, Ira Epstein reviews the day’s trading in various SPDR-ETF markets for the trading day that ended, Wednesday, July 10.Video Length: 00:13:21More By This Author:Metal Markets Report For Wednesday, July 10Financial Markets Report For Wednesday, July 10Metal Markets Report For Tuesday, July 9
Gold Stocks Are Signaling The Next Big Move In Gold
Image Source: PixabayThe gold stocks are leading Gold and signaling the next leg higher.The GDX to Gold and GDXJ to Gold ratios are breaking out and approaching new 52-week highs. GDXJ to GDX ratio is in bull mode.The GDX Advance Decline line broke to a new 52 week high last week for the first time in […]
The Commodities Feed: US Gasoline Demand Trends Higher
Image Source: Unsplash Energy – Little change in OPEC outlook Oil prices rallied yesterday following a constructive weekly inventory report from the EIA. US commercial crude oil inventories declined by 3.44m barrels over the last week, more than the 1.92m barrel draw the API reported the previous day. This larger-than-expected draw came despite crude oil exports […]
Elliott Wave Technical Analysis: XRP Crypto Price News For Thursday, July 11
Image Source: PexelsElliott Wave Analysis TradingLounge Daily ChartXRP/ U.S. dollar(XRPUSD)XRPUSD Elliott Wave Technical Analysis Function: Counter TrendMode: CorrectiveStructure: TrianglePosition: Wave EDirection Next higher Degrees: wave 4 of ImpulseWave Cancel invalid level: 0.486Details: Movement within the triangle pattern before the price Declines again. in Wave 5.Ripple/ U.S. dollar(XRPUSD)Trading Strategy: Decreasing wave ((E)), which is the last wave in the […]
