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Central Banks Sit Tight As Pain Spreads
Image Source: Pexels Yesterday, the Bank of Canada announced it would hold its key interest rate at 5%, the highest since 2007. At the press conference, Governor Macklem confirmed that policy discussions considered how long rates should stay at present levels but added, “It’s still too early to consider lowering the policy interest rate.”The main cause for concern remains unaffordable […]
Consumer Discretionary Sector: A Favorite For Growth
Image Source: Unsplash The consumer discretionary sector is one of my favorite sectors for growth. Companies in this sector make goods that are fun to have but not essential, hence they follow economic cycles and consumers’ sentiment. This “all-you-fit-in” sector is also called consumer cyclical in financial literature.Discretionary spending is all the expenses you incur after […]
Initial Jobless Claims Continue Positive
The most important reason I cover initial jobless claims is because they are an “official” short leading indicator. They are also very good at forecasting the short-term trend in the unemployment rate in the monthly jobs report, which will be updated for February tomorrow.And the news continues to be positive. Initial claims were unchanged at […]
Asia Week Ahead: People’s Bank Of China To Set Rates And Japan’s Revised GDP
Image Source: Pixabay Next week features Japan’s revised GDP numbers and China’s decision on the medium-term lending facility. Meanwhile, regional economies release trade figures and India reports inflation. China PBoC to set MLF rateThe People’s Bank of China will set its one-year medium-term lending facility rate on 15 March, with markets looking to see if there will […]
Rising Temporary Fragility
Powell didn‘t commit to any time specified rate cut, and S&P 500 disregarded JOLTS coming in no landing way. It was only NYCB (when it was almost simultaneously announced it raised fresh capital) and then BoJ hinting at policy normalization that sent equities lower late in the session and then some more.Here are the most […]
Elliott Wave Technical Analysis: WTI Crude Oil – Thursday, March 7
Image Source: Unsplash WTI Crude Elliott wave analysis – when will the corrective rally end?Function – Counter-trendMode – CorrectiveStructure – DiagonalPosition – Blue wave a of Y of (B)Direction – Blue wave b of Y of (B)WTI Crude has gained over 16% since mid-December. However, the resurgence has been corrective. Thus, the buyers need to know […]
Bitcoin Hits $69K, Coinbase Faces Outages
As Bitcoin reached an all-time high of $69,000, Coinbase, a leading U.S. cryptocurrency exchange, faced significant technical issues. Users experienced transaction errors. This prompted the exchange to reassure them about the safety of their assets and acknowledge the existing issues. A sudden surge in market activity strained Coinbase’s infrastructure. It highlighted the challenges in handling unexpected spikes […]
ECB Keeps Rates And Communication Unchanged
Image Source: Pexels The European Central Bank keeps its policy rates on hold and doesn’t blink on possible upcoming rate cuts.No policy action and all focus is on communication. This had been the focus of today’s ECB meeting already for a while. The just-published policy announcement shows that now is not the time for rate cuts […]
Powell Says Fed Funds Rate At Its ‘Peak’ But…
Image Source: Pixabay Yesterday during his first day of back-to-back testimony in Washington, Fed Chair Powell signaled the policy rate is at its “peak for this tightening cycle,” although he indicated that the central bank is not ready to begin cutting rates immediately Powell shared that he still expects a pivot to interest rate cuts this year. […]
USD/JPY Analysis: Major Break In The Uptrend
The USD/JPY pair continued its strong downward trend after a series of encouraging economic data from Japan. Since the start of today’s trading session on Thursday, the USD/JPY exchange rate has been falling sharply as investors continue to bet that the Bank of Japan (BoJ) will start cutting interest rates soon. According to forex trading platforms, the […]
