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Daily Market Outlook – Friday, Jan. 10

Daily Market Outlook – Friday, Jan. 10

Image Source: Unsplash  Asian stocks fell ahead of the U.S. employment data, which is anticipated to influence interest rate forecasts. The MSCI Asia index declined for the third consecutive day, with most market equities experiencing losses. S&P 500 futures showed slight fluctuations after U.S. stock markets paused on Thursday to observe a national day of mourning […]
XRP Price Stays Steady: Will Consolidation End Soon?

XRP Price Stays Steady: Will Consolidation End Soon?

XRP price is holding the ground above $2.20 despite pressure on Bitcoin. The price is still consolidating and aiming for a fresh increase above the $2.320 resistance. XRP price is still in a range mode above the $2.25 zone. The price is now trading below $2.350 and the 100-hourly Simple Moving Average. There is a […]
USD/CAD Forecast: Friday’s Critical Moves

USD/CAD Forecast: Friday’s Critical Moves

But at the end of the day this is just a continuation of what we’ve seen despite the fact that it wasn’t over. But what I’m paying the most attention to on Friday is the fact that this might be the epicenter of FX trading. After all, we get the non-farm payroll announcement coming out […]
Elliott Wave Technical Analysis: U.S. Dollar/Japanese Yen – Friday, Jan. 10

Elliott Wave Technical Analysis: U.S. Dollar/Japanese Yen – Friday, Jan. 10

U.S. Dollar / Japanese Yen (USDJPY) Day ChartUSDJPY Elliott Wave Technical Analysis Function: Bullish Trend Mode: Impulsive Structure: Orange Wave 1 Position: Navy Blue Wave 3 Direction Next Lower Degrees: Orange Wave 2 Details: Orange wave 1 is still in play and appears to be nearing completion. Wave Cancel Invalid Level: 156.186 The USDJPY currency pair demonstrates a strong bullish trend based on the […]
XAUUSD Has Ended Correction And Turned Higher

XAUUSD Has Ended Correction And Turned Higher

Short Term Elliott Wave view in Gold (XAUUSD) suggests rally from 11.14.2024 low is unfolding as a 5 waves impulse. Up from 11.14.2024 low, wave (1) ended at 2721.41 and pullback in wave (2) ended at 2583.21 as the 1 hour chart below shows. The metal has turned higher in wave (3). Up from wave (2), […]
EUR/GBP Extends The Rally Above 0.8350 Amid UK Fiscal Concerns

EUR/GBP Extends The Rally Above 0.8350 Amid UK Fiscal Concerns

The EUR/GBP cross extends its upside to near 0.8375 during the early European session on Friday. The Pound Sterling (GBP) remains under selling pressure amid concerns about the UK’s fiscal outlook and the Bank of England’s (BoE) ability to control inflation. The significant depreciation of the GBP came after a rise in the yields of the UK benchmark 10-year […]
What Is Driving Longer Term Interest Rates Higher?

What Is Driving Longer Term Interest Rates Higher?

Just as the Fed began reducing the Fed Funds rate in September last year, longer term interest rates as measured by the 10-Year U.S. Treasury began moving higher. In mid-September the 10-year U.S. treasury yield equaled 3.61% and has now reached 4.68%. Commensurate with an increase in yields bond prices fall since a bond’s price […]
WTI Rises To Near $74.00 Due To Increased Likelihood Of Higher Heating Fuel Demand

WTI Rises To Near $74.00 Due To Increased Likelihood Of Higher Heating Fuel Demand

 West Texas Intermediate (WTI) Oil price extends gains for the second successive session, trading around $73.90 per barrel during the European hours on Friday. Crude Oil prices are bolstered by expectations of higher heating fuel demand due to extended cold weather across the Northern Hemisphere.The United States (US) Weather Bureau predicts below-average temperatures in central and eastern […]
Brent Set For Longest Weekly Gains Since July 2024

Brent Set For Longest Weekly Gains Since July 2024

Brent sees three weeks of growth, now above $77 Colder weather drives demand for heating fuels globally Russia’s oil exports hit lows, adding supply concerns China’s slowdown and strong US dollar pose challenges Brent crude oil is set to achieve its longest streak of weekly gains since July 2024, marking three consecutive weeks of growth.On Friday, Brent futures climbed above $77 per barrel, […]
USD/JPY Forecast: Finds Buyers On Dips

USD/JPY Forecast: Finds Buyers On Dips

US dollar finds buyers on dips against the Japanese yen. The US dollar plunged early during the trading session on Thursday but has turned around to show signs of life as it looks like the 158 yen level is going to continue to attract some buying pressure. In general, this is a market that has […]