September 2024 - Page 168 of 200 -

Major Japanese banks back stablecoin platform for cross-border settlements

Sep 06, 2024 Jeremy Parkinson Cryptocurrency, No picture 0

Key Takeaways Project Pax aims to resolve global payment inefficiencies with stablecoins. Japan’s rate hike impacts Bitcoin, highlighting crypto market volatility. Share this article Mitsubishi UFJ Bank, Sumitomo Mitsui Banking Corporation, and Mizuho Bank are supporting the initiative, according to a recently published official announcement. The project is a collaborative effort between blockchain firms Datachain, […]

XAUUSD Commodity Elliott Wave Technical Analysis – Friday, September 6

Sep 06, 2024 Jeremy Parkinson Finance 0

Gold has maintained its strong upward momentum throughout 2024, with prices nearing another high in just over three weeks. The commodity has gained over 23% so far this year, and it is now testing levels close to a new all-time high. Despite this bullish progress, a minor pullback is likely to occur soon. Daily Chart AnalysisOn the daily […]

August Jobs Report: For The First Time, Including Revisions, More Consistent With A Hard Landing

Sep 06, 2024 Jeremy Parkinson Finance, No picture 0

My focus continues to be on whether jobs gains are most consistent with a “soft landing,” i.e., no further deterioration, or whether there is further decline towards a recession. For a change, this month the Establishment report was the weakest in several years, if still positive. Meanwhile the Household report rebounded for the month, but now shows […]

USD/CAD Bounces Back Strongly To Near 1.3500 After US/Canada Employment Release

Sep 06, 2024 Jeremy Parkinson Finance, No picture 0

The USD/CAD pair recovers swiftly to near the round-level support of 1.3500 in Friday’s American session. The Loonie asset turns volatile after the release of the United States/Canada Employment data for June.The US Nonfarm Payrolls (NFP) report showed that labor demand turned out weaker-than-expected. Number of workers hired were 142K, lower than the estimates of […]

Our Psychedelic Compound-Based Clinical-Stage Drug Stocks Portfolio Was Down 16% In August

Sep 06, 2024 Jeremy Parkinson Finance, No picture 0

An IntroductionThe psychedelic compound-based drug market is expected to triple over the next few years which should create many winning stocks in the years to come. Some BackgroundShares of clinical-stage companies developing treatments based on psychedelic compound-based drugs moved lower in early August after the U.S. Food and Drug Administration (FDA) rejected the use of MDMA (5-MeO-DMT or 5-MethOxy-N,N-DiMeThyltryptamine) for […]

SPY Squeeze When

Sep 06, 2024 Jeremy Parkinson Finance 0

Not immediately to the ADP employment change, but following the ISM data, S&P 500 paid attention to the job market status – and another rally got checked. Nasdaq outperformance likewise, following AVGO earnings even more so. There were though pockets of strength (further discussed). The fear and positioning is for a very weak NFPs figure, […]

S&P/TSX 60 Index Elliott Wave Technical Analysis – Friday, September 6

Sep 06, 2024 Jeremy Parkinson Finance 0

S&P/TSX 60 Elliott Wave Analysis Trading Lounge Day Chart S&P/TSX 60 Elliott Wave Technical AnalysisFUNCTION: Bullish Trend MODE: Impulsive STRUCTURE: Gray Wave 3 POSITION: Orange Wave 3 DIRECTION NEXT HIGHER DEGREES: Gray Wave 3 (Continue)DETAILS: Gray wave 2 of orange wave 3 appears completed. Now, gray wave 3 of 3 is in progress. The wave cancellation invalidation level is set at 1,296.27.The S&P/TSX 60 […]

The Market Discounts Around A 40% Chance Of Not One But Two 50 Bp Cuts In Last Three FOMC Meetings Of The Year Ahead Of Jobs Report

Sep 06, 2024 Jeremy Parkinson Finance, No picture 0

The US jobs report is front and center. The market is going into the report with about a 40% chance of a 50 bp Fed rate cut later this month. The Dollar Index is trading lower for the third consecutive session. Helped by the fifth consecutive decline in US 10-year yields, the yen approached last […]

Bitcoin Price Prediction: A Major Drop Or A Massive Reversal? Here’s What Experts Say!

Sep 06, 2024 Jeremy Parkinson Finance, No picture 0

In the last 7 days, Bitcoin has dropped by at least 5.8%. At the beginning of the month, it was nearly $58,964.54, but now it stands at a low of $56,124. Many investors are wondering if it will plunge further. According to a recent Bitcoin price prediction from a cryptocurrency expert, there is a possibility of further […]

Bitcoin Could Fall To A New Weekly Low

Sep 06, 2024 Jeremy Parkinson Finance 0

Bitcoin chart analysisThe price of Bitcoin fell to $55,650 yesterday, thus testing the weekly low at $55,600. We received new support and started a recovery to the $56800 level. That is today’s high, and for now, we have resistance at that level. We see a new pullback from there to new support at $56250. If […]