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Archives by Year:
US Q1 GDP Nowcast Highlights Growth Slowdown Persisting
US economic output is still on a path for a materially softer pace of growth in the first-quarter GDP report scheduled for release at the end of this month. The expansion will be strong enough to minimize recession risk, but the deceleration in the trend via GDP data will remain conspicuous for a second straight […]
BRN: Further Upside As Golden Cross Forms?
BRN is trading above the psychologically important $90/bbl, the level last seen in October 2023, forming a golden cross formation. Golden cross is bullish chart pattern that occurs when short term moving average (50-period SMA) moving above long-term moving average (200-period SMA). Escalating tensions in the Middle East and fears of a potentially wider regional conflict have been […]
Stocks Sold Off: What’s Next?
Is yesterday’s decline a prelude to a deeper correction?Stocks sold off on Thursday, with the S&P 500 index closing 1.23% lower. The intraday decline was quite significant, as the market opened 0.6% above Wednesday’s closing price. The sentiment reversed after comments from FOMC Member Kashkari indicated less likelihood of interest rate cuts.Yesterday’s daily low was […]
US Nonfarm Payrolls Data Today Rises Rate Cut Hopes
Image Source: Pexels This afternoon brought unexpected good news for the US markets. Higher than expected nonfarm payrolls data boosted both the USD and various indices. The bumper amount of jobs created for the American economy has also risen hopes of an interest rate cut soon. This afternoon, US nonfarm payrolls figures were announced by the US […]
Crude Oil Commentary – Friday, April 5
Image Source: Pixabay Crude In DemandCrude prices are on track to end the week at their highest level since mid-2023. Fears of escalating violence in the Middle East, an improving China demand outlook, and Fed easing expectations are helping keep oil prices well supported here. On the back of an Israeli airstrike in Damascus this week […]
The Service Sector Weakens As Manufacturing Strengthens
This past week’s ISM service and manufacturing surveys continue to show divergence between the two major economic sectors. However, this divergence differs from what we have seen over the past few years. For the first time in 16 months, the ISM manufacturing was above 50. 50 is the distinction between economic expansion and contraction. The […]
AUD/USD Price Analysis: Showing Potential For A Bullish Reversal
AUD/USD briefly broke out of a descending channel and rallied. The rally was cut short, however, and the pair retreated back inside the channel. If AUD/USD rebreaks above the previous high of the initial breakout rally, it will be a bullish sign. AUD/USD has been falling in a descending channel since the March 8 high at […]
Elliott Wave Technical Analysis: Coffee
Image Source: Pixabay Coffee Elliottwave AnalysisFunction – Counter-trend Mode – Corrective Structure – Triangle wave (X) Position – Wave A of (Y)Direction – Wave A of (Y) is still in playDetails – Wave A pushed farther away from 200. May push further higher. The 200 major level could provide support for wave B pullback that should follow the end of A. Not much has […]
Thursday’s Reversal And The Jobs Report
The market was cruising along as usual Thursday before reversing hard to the downside starting around 2 pm EST. At the time, it wasn’t clear if the catalyst was a speech by Fed President Neel Kashkari in which he said the Fed might not cut rates at all this year or some news out of […]
US Employment Data To Set Dollar’s Course
Image Source: Pixabay Overview: The focus is squarely on the US employment report. At the risk of oversimplifying, given the position adjustment in the past 48 hours, a solid report can see the greenback recover, while a disappointing report will likely see it deepen the correction of the rally that began with the February jobs report. The […]
