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Forex: France’s Political Tango

Forex: France’s Political Tango

Image Source: Pixabay  Everyone anticipated a hung parliament in France, but the left-wing coalition’s surprise victory has sent ripples through the market. Despite this upset, Macron’s party securing second place might help balance the scales and keep French bond spreads from widening too drastically.The euro is still more of a G-10 follower than a leader so […]
Unlocking ASX Trading Success: Woolworths Group Limited

Unlocking ASX Trading Success: Woolworths Group Limited

ASX: Woolworths Group Limited – WOW Elliott Wave Technical AnalysisTradingLounge (1D Chart)Greetings,Today’s Elliott Wave analysis updates the Australian Stock Exchange (ASX) focusing on Woolworths Group Limited (WOW). Our current observation suggests that wave II (grey) may have concluded, signaling a potential resumption of the longer-term uptrend for WOW. We will monitor the 1D chart for Long Trade Setups.ASX: […]
EU50 Rises After French Election Surprise

EU50 Rises After French Election Surprise

EU markets rise post-French election (EU50: +0.50%) Surprise far-left gains in French parliament, no majority More political instability could lie ahead EU50 bullish trend; RSI neutral; target 5046.9 European markets are experiencing gains following Sunday’s vote in France. EU50: +0.50% FRA40: +0.34% DAX: +0.53% AEX: +0.29% IBEX: +0.46% In the French parliamentary elections, the far-left New Popular Front secured the most seats but did not achieve an absolute majority, leading to […]
The Commodities Feed: Hurricane Risk Lingers

The Commodities Feed: Hurricane Risk Lingers

Image Source: Unsplash  Oil prices remain relatively well supported amid continued hurricane activity in the US Gulf of Mexico. A shift in Hurricane Beryl’s path puts refinery infrastructure in Texas at risk.  Energy – Hurricane risk lingersThe oil market managed to eke out its fourth consecutive weekly gain with ICE Brent settling marginally higher on the […]
S&P 500 Rises As Bad News Shifts Investor Focus To 2024-Q3

S&P 500 Rises As Bad News Shifts Investor Focus To 2024-Q3

The S&P 500 (Index: SPX) had a strong week to start the calendar quarter for 2024-Q3. The index climbed nearly two percent from the previous week’s close to end the trading week at 5,567.19, a new record high.Unfortunately, it was one of those weeks where bad economic news for the U.S. led to the rise of stock […]
How Much Faith Do You Have In BLS Job Reports?

How Much Faith Do You Have In BLS Job Reports?

Let’s check out BLS job report revisions from January 2023 through June of 2024 in a series of four charts.BLS Data from archive reports to spotlight first and second revisions, chart by Mish The trend is obvious. There were only three upward second revisions in 18 months.BLS Nonfarm Payroll Revision MagnitudeSum of BLS First and […]
The Job Market Broke

The Job Market Broke

Image Source: Pixabay  Unemployment in the US is now steadily moving higher. The June 2024 employment report contained more substantial downward revisions, evidence more employers are cutting hours, and most concerning is another increase in the unemployment rate. And, contrary to many claims, it’s not the “good” kind of rising unemployment.Video Length: 00:18:48More By This Author:What […]
Americans Are Poorer; The United States Misery Index Rises Again

Americans Are Poorer; The United States Misery Index Rises Again

Image Source: Pexels  I frequently receive comments about the strength of the United States economy and the unfairness of perceiving things as less than stellar. Is it really the “strongest economy ever”? It’s evident that it’s far from being the “strongest economy ever.”The United States unemployment rate has risen to 4.1%, the highest in three years, which […]
Czech National Bank Minutes: Pace Of Cuts To Slow Amid Inflationary Risks

Czech National Bank Minutes: Pace Of Cuts To Slow Amid Inflationary Risks

The CNB Bank Board reduced the policy rate by 50bp to 4.75% at its June meeting, with five decision makers voting in favour, while Eva Zamrazilova and Karina Kubelkova opted for a 25bp cut. Monetary conditions remain restrictive, but inflation risks warrant some caution.Monetary conditions remain restrictive but inflationary pressures are tangibleThe Bank Board assessed […]
Bitcoin Forecast: Dips Below $56,500: Buy Opportunity? 
                    
 Mt. Gox Effect

Bitcoin Forecast: Dips Below $56,500: Buy Opportunity?  Mt. Gox Effect

Bitcoin initially plunged during the trading session on Friday, breaking well below the $56,500 level, which was where we had the significant pullback to. Several months ago, at this point, it looks like we are trying to stay in the overall consolidation range, and perhaps offers a buying opportunity. If we can break above the […]