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Archives by Year:
AUD/USD Recovers Above 0.6500 On Renewed USD Weakness
AUD/USD gained traction during the American trading hours on Friday and climbed above 0.6500. At the time of press, the pair was up 0.4% on the day at 0.6530. US jobs data weigh heavily on USDThe US Dollar (USD) came under heavy selling pressure and fuelled AUD/USD’s rebound. The data published by the US Bureau of […]
Gold (XAU/USD) Continues To Surge: New Highs As Fed Rate Cut Looms
The price of gold (XAUUSD) continues its upward trajectory, hitting a new peak at 2460 USD per troy ounce on Friday. The surge in gold prices is largely driven by growing expectations that the US Federal Reserve will soon reduce interest rates. This anticipation has been bolstered by recent signals from the Fed’s July meeting […]
The Sahm Rule, Employment, And Recession Indicators
Economist Claudia Sahm developed the “Sahm Rule,” which states that the economy is in recession when the unemployment rate’s three-month average is a half percentage point above its 12-month low. As shown, the latest employment report has triggered that indicator. So, does this mean a recession is imminent? Maybe. However, we can now add this indicator to the long […]
Stablecoin market surges past $160 billion, reaching a two-year peak
Tether’s USDT has propelled the stablecoin market to over $160 billion in value, its highest point since the collapse of Terra’s UST. According to IntoTheBlock, USDT now comprises over 70% of the stablecoin market, maintaining this dominance throughout 2024. The stablecoin has also recorded all-time low volatility in July, despite broader market retractions.Image: IntoTheBlockUSDT’s on-chain […]
Exxon Mobil Reports Q2: Beats Forecast With $2.14 EPS, $93.06 B In Revenue
Exxon Mobile reported a better-than-expected Q2 with $9.2 billion in earnings, $2.14 per share.Exxon Mobil Corporation (XOM) has announced its second-quarter 2024 results, reporting industry-leading earnings of $9.2 billion, or $2.14 per share. Key contributors to these results include the Pioneer merger, which closed five months ahead of schedule, adding $0.5 billion to earnings and achieving […]
Clipping Gold Coins: The Banker’s Scheme To Steal From Savers
The practice of coin clipping unveils a disturbing facet of human nature, deeply rooted in mass psychology and our collective inclination towards deception for personal gain. Throughout history, this behaviour has manifested in various forms, with individuals prioritizing self-interest over societal well-being. As civilization advances, so does the sophistication of these deceptive practices, evolving from crude coin […]
Why This Flush
S&P 500 tried to rally after the post Powell spike and retreat, ignoring the almost 250K unemployment claims. It was though a bit worse than expected manufacturing PMI (46.8 vs. 48.8) that sustained the heavy selling into the opening bell strength with NVDA touching $120. All the three indices and real assets except gold were […]
XAUUSD Commodity Elliott Wave Technical Analysis – Friday, August 2
Gold Elliott Wave AnalysisFunction – TrendMode – ImpulseStructure – Impulse for wave (3) still emergingPosition -Wave 5Direction – Wave 5 is still in play Gold has added to gains after breaking out of a two-month range, and it now appears poised for a fresh all-time high. Across all time frames, the market remains bullish, providing opportunities for […]
GBP/USD Outlook: Pound Plummets As BoE Lowers Rates
The GBP/USD outlook indicates strong bearish sentiment, with the pound extending its decline following the Bank of England’s rate cut on Thursday. Meanwhile, the dollar fell after data revealed a faster-than-expected slowdown in the US economy. At the same time, markets raised expectations for Fed rate cuts.The Bank of England started its rate-cutting cycle on […]
USD/CAD Hovers Near Nine-month High Below 1.3900 With US NFP In Focus
The USD/CAD pair trades close to a nine-month high at 1.3890 in Friday’s European session. The Loonie asset exhibits strength amid dismal market moods. Fears of a severe slowdown in the United States (US) economy have deepened after the US ISM Manufacturing PMI report showed a sharp contraction in factory activities in July and Initial jobless claims […]
