Author Archive: Jeremy Parkinson
Still No New Highs For Gold Since 1980
Image Source: Unsplash All-time Highs For GoldThe intra-day high for spot gold in 2024 is $2785 oz. That is an increase of 34% over its closing price of $2062 oz at the end of 2023. Indeed, gold holders are happy campers and their confidence and trust is emboldened and confirmed.As the gold price continued to climb […]
A Global Currency Crisis Has Begun
Image Source: Pixabay While everyone is hanging on the Fed and the FOMC’s indecision about how many rate cuts next year, there are currency crises – plural – beginning to break out in key places. One of those is Brazil where it has gotten so dangerous the country’s central bank is now regularly intervening in FX […]
XAUUSD Is Under Pressure Amid Hawkish Fed Outlook
XAUUSD holds near $2,600, facing weekly decline Fed projects cautious easing, two rate cuts projected for 2024 Strong US GDP and spending limit gold’s appeal Weak demand in India expected to hurt gold imports Despite challenges, gold up 26% YTD Gold hovers right above $2,600 level, poised for a weekly drop due to the Federal Reserve’s hawkish stance. Midweek, the Fed signaled a cautious approach to further monetary […]
EUR/USD Trades With Caution As Fed’s Hawkish Cut Boosts US Dollar’s Appeal
EUR/USD holds the immediate support of 1.0340, but the Fed’s hawkish cut weights on the pair in the broader term. Investors await the US PCE inflation data for fresh guidance on the US interest rate outlook. ECB’s Patsalides pushes back bigger rate cut prospects and supports gradual policy easing. EUR/USD slightly recovers but trades cautiously near […]
End Of Week Macro Reflections
Image source: Pixabay We saw three big central bank decisions this week and the results were consistent with the way things have been going. In recent months, there has been a clear divergence in monetary policy between the Fed and other major central banks.Video Length: 00:02:04More By This Author:BOE Decision Preview – Thursday, Dec. 19Fed Dot […]
China Yields Collapse
Treasury yields rose sharply following the Fed meeting on Wednesday, yet they are collapsing in the world’s second-largest economy, China. While our economy is robust, large foreign economies, including China, struggle. Our recent article Global Conditions and Commentary, highlights the strong historical relationship between the global economy and the U.S. Moreover, it summarizes the economic stagnation facing most […]
Sensex Today Trades Flat; Nifty Below 24,000
Asian stocks declined and the dollar rose as investors awaited the release of the Federal Reserve’s preferred inflation gauge for fresh clues about its policy outlook.A key gauge of regional shares fell 0.2% early Friday, with losses in Australia and South Korea. Japan was an outlier after the yen weakenedUS stock futures fell on Thursday […]
GBP/USD Forecast: Sterling Outlook After The BoE, Fed Decisions?
Photo by Colin Watts on Unsplash The GBP/USD pair has slumped after the Bank of England decision. The BoE left interest rates unchanged at 4.75% as expected. Economists expect more aggressive interest rate cuts. The GBP/USD exchange rate dived to its lowest level since May 2024 as the US dollar index surge gained steam. It dropped to […]
BTC/USD Forecast: Bitcoin Holds $100K Support
During my analysis of Bitcoin, the first thing that comes to my attention is the fact that the $100,000 level continues to be very important. This is obviously a large, round, psychologically significant figure, and I would venture to say there are probably a lot of options traders willing to get involved here. Furthermore, retail […]
The Commodities Feed: Stronger USD Prompts Oil Sell-Off
Image Source: Unsplash Crude oil extended its fall in the early trading session today as broader market concerns have weighed on the complex, while a stronger dollar has also added further pressure. Meanwhile, the above-normal inventory draw keeps pushing US natural gas higher. Energy – WTI settles below $70/bblCrude oil prices edged lower with NYMEX WTI […]
