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Elliott Wave Technical Analysis: U.S. Dollar/Japanese Yen – Thursday, Oct. 24

Elliott Wave Technical Analysis: U.S. Dollar/Japanese Yen – Thursday, Oct. 24

U.S. Dollar / Japanese Yen (USDJPY) Day ChartUSDJPY Elliott Wave Technical Analysis FUNCTION: Trend MODE: Impulsive STRUCTURE: Navy blue wave 1 POSITION: Gray wave 1 DIRECTION NEXT LOWER DEGREES: Navy blue wave 2 DETAILS: Navy blue wave 1 is in progress and appears to be nearing its completion. Wave Cancel Invalidation Level: 139.585 The Elliott Wave analysis for USDJPY on the daily chart shows […]
Weekly Jobless Claims Return To Near Normal

Weekly Jobless Claims Return To Near Normal

After two weeks of being highly elevated YoY, initial claims returned to a more “normal” range this week, as except for Florida, hurricane disruptions largely disappeared.For the week initial claims declined -15,000 to 227,000. The four week moving average increased 2,000 to 238,500. With the typical one week delay, continuing claims rose 25,000 to 1.897 […]
Sensex Today Ends 16 Points Lower; Nifty Below 24,450

Sensex Today Ends 16 Points Lower; Nifty Below 24,450

After opening the flat, Indian benchmark indices remained muted as the session progressed and ended the day on marginally low.Benchmark equity indices BSE Sensex and NSE Nifty50 ended Thursday’s trading session on a flat note, biased towards negative.At the closing bell, the BSE Sensex stood lower by 16 points.Meanwhile, the NSE Nifty closed lower by 36 points (down 0.2%).M&M, […]
Kraken to debut Ink blockchain for DeFi trading and lending next year

Kraken to debut Ink blockchain for DeFi trading and lending next year

Key Takeaways Ink blockchain by Kraken aims to simplify DeFi with a user-friendly interface. Kraken’s Ink will not issue its own token, focusing instead on service expansion. Share this article Kraken announced today it will launch its own blockchain for DeFi trading and lending in early 2025. Dubbed “Ink,” the chain will adopt similar technology […]
Teen Employment Rebounds After Three Months Of Declines

Teen Employment Rebounds After Three Months Of Declines

September 2024 saw the seasonally-adjusted number of employed teens rise in the U.S. economy after having declined in each of the three previous months. The seasonally-adjusted number of employed teens Age 16-19 increased by 231,000 to 5,624,000.Most of that increase took place among younger teens Age 16-17, whose numbers increased 159,000 to 2,193,000. Older teens Age 18-19 […]
ECB Comments Suggest There’s A New Rush Towards Neutral Rates

ECB Comments Suggest There’s A New Rush Towards Neutral Rates

Image source: Pixabay  The European Central Bank (ECB) has made a remarkable U-turn recently. Last week’s rate cut was just the beginning, and this week’s comments indicate that the ECB is now eager to quickly bring rates down to neutral and stay ahead of the curve in monetary policy.International gatherings following an ECB meeting invariably lead to […]
American Airlines Surpasses Q3 Earnings And Revenue Estimates

American Airlines Surpasses Q3 Earnings And Revenue Estimates

Image Source: Unsplash  American Airlines (AAL – Free Report) came out with quarterly earnings of $0.30 per share, beating the Zacks Consensus Estimate of $0.13 per share. This compares to earnings of $0.38 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 130.77%. A quarter ago, it was […]
Bitcoin’s Current Decline Could Be Temporary – Key Signs Of A Rally Revealed

Bitcoin’s Current Decline Could Be Temporary – Key Signs Of A Rally Revealed

Bitcoin (BTC) has seen a slight price decline recently, but according to a new analysis, there could still be signs of a potential short-term uptrend.A CryptoQuant analyst, Yonsei Dent, shared his insights on the CryptoQuant QuickTake platform, focusing on the Coinbase Premium Index and its impact on Bitcoin’s price movement.  Key Indicators For Bitcoin Short-Term MomentumDent’s analysis […]
This Points To Significantly Higher Silver Prices

This Points To Significantly Higher Silver Prices

Since the creation of the Federal Reserve, the Dow Jones has significantly outperformed silver.It was only during brief periods before the 1919 and 1980 silver peaks that silver was able to outperform the Dow (see the Dow/Silver chart below).The Dow/Silver ratio needs to rise above the double blue line in order to reach parity with […]
Eurozone PMI Remains In Contraction Territory As ECB Considers Pace Of Rate Cuts

Eurozone PMI Remains In Contraction Territory As ECB Considers Pace Of Rate Cuts

Image source: Pixabay  The composite PMI remained broadly stable, increasing from 49.6 to 49.7 in October. The survey is in line with a weak economic environment with slowing inflation thanks to softening demand.The eurozone PMI has been on the decline since June, causing doubts about an already frail economic recovery from the energy crisis. So much […]