Author Archive: Jeremy Parkinson
BTC Report: XRP Outshines Bitcoin With A 10% Rally Amid Regulatory Wins
Image Source: Pexels Bitcoin’s (BITCOMP) value surged past the $98,000 mark, reflecting a notable uptick amidst fluctuating market dynamics. Meanwhile, XRP has emerged as a standout performer, overshadowing Bitcoin in recent trading sessions.The broader crypto scene is also abuzz with regulatory news, including Italy’s decision to scale back a proposed tax increase on crypto capital gains. Additionally, strategic […]
Re-Inflation Continues – November Consumer Prices Surge Most Since April
Having accelerated MoM for the past four months, analysts expected today’s CPI print (for November) will rise once again to +0.3% MoM and they were dead on (the biggest MoM rise since April). The 0.3% MoM rise pushed headline CPI up 2.7% YoY – the highest since July…Source: BloombergCore CPI also rose 0.3% MoM (as […]
EUR/GBP Trades With Caution Near Two-year Low Around 0.8250 Ahead Of ECB Policy Meet
The EUR/GBP pair trades cautiously near a two-year low around 0.8250 in the North American session on Wednesday. The cross remains vulnerable ahead of the European Central Bank (ECB) monetary policy meeting on December 18.The ECB is almost certain to cut its Deposit Facility rate by 25 basis points (bps) to 3% as officials are worried about […]
GBP/JPY Price Forecast: Recovers Past 194.00, Traders Eye 200-Day SMA
The Pound Sterling registered decent gains of over 0.20% against the Japanese Yen in early trading during Wednesday’s North American session despite the lack of a catalyst boosting the former. The GBP/JPY trades at 194.46 after bouncing off daily lows of 192.49.Price action remains slightly muted. Traders are awaiting the release of Gross Domestic Product (GDP) figures […]
CPI Right On Target
Equity futures and international markets were little changed headed into the November CPI report. The STOXX 600 was unchanged, and overnight the Nikkei was also unchanged. The CPI report continued the narrative that inflation remains sticky, but it wasn’t any worse than expected. For both the headline and core readings, the m/m and y/y readings […]
EUR/USD Analysis: Awaits US Inflation European stocks halt rally
US Inflation ExpectationsThe most important data in today’s economic calendar. The announcement of the US consumer price index readings, and the index is expected to rise for the fourth consecutive month. The core CPI reading – without food and energy prices – is expected to record 0.3 percent. With the announcement of consumer prices and […]
Australian Dollar Hits Four-Week Low Amid RBA Stance And US Dollar Strength
Image Source: Unsplash The AUD/USD pair continues its downward trajectory, reaching a four-week low of 0.6386 on Wednesday. This decline is primarily influenced by the Reserve Bank of Australia’s (RBA) decision to maintain interest rates at 4.35% per annum for the ninth consecutive meeting. This decision, which was widely expected, reflects the central bank’s cautious approach […]
US November CPI matches expectations, Fed rate cut likely ahead
Key Takeaways US consumer prices rose 2.7% annually in November, keeping inflation above the Federal Reserve’s 2% target. Traders are anticipating a quarter-point reduction in the federal funds rate at the upcoming Federal Reserve meeting. Share this article Fresh November CPI data out Wednesday showed consumer prices increased as expected, keeping the Federal Reserve on […]
Elliott Wave Technical Analysis – The Home Depot
HD Elliott Wave Analysis Trading LoungeThe Home Depot, (HD) Daily ChartHD Elliott Wave Technical AnalysisFUNCTION: TrendMODE: ImpulsiveSTRUCTURE: MotivePOSITION: Wave {v}.DIRECTION: Upside in wave (iii) of {v} of 3.DETAILS: Looking for upside into what could be an extended wave {v} towards the next Trading Level at 500$.The Home Depot, (HD) 1H ChartHD Elliott Wave Technical AnalysisFUNCTION: TrendMODE: ImpulsiveSTRUCTURE: MotivePOSITION: Wave […]
China Is No Longer The Marginal Buyer Of Oil
From 2010 through 2022, the US Energy Information Administration (EIA) calculates that global oil demand grew by 10 million barrels per day (Mb/d). Over 60% of the demand growth was due to China’s phenomenal economic growth. For context, American demand increased by less than 10%. The graph below shows that China once drove global oil […]
