Author Archive: Jeremy Parkinson
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 […]
Crude Oil Catches Up With After Geopolitical Tensions Erupt
Oil prices albumpje higher, gaining some momentum with the heightened tensions in the Middle East. The monthly OPEC report to be a non-event. The US Dollar Index jumps on safe-have inflows and as uncertainty increases over the December Fed decision on interest rates. Crude Oil is soaring above 1% gains for this Wednesday, for a third consecutive […]
USD/CHF Eases From 0.8850 Highs Heading On The US Inflation Release
The US Dollar is trading higher for the fourth consecutive day although bulls have been halted at 0.8850 with investors awaiting the reading of November’s US CPI figures. The pair accelerated its rebound from last week’s lows at 0.8735 on Tuesday. The Dollar has been appreciating across the board this week, with investors anticipating a strong US […]
Ethereum Accumulation Addresses Hit $78B: What’s Next For ETH’s Price?
Ethereum (ETH), the second-largest cryptocurrency by market capitalization, seems to be drawing attention as analysts observe market metrics that indicates the possible next move for ETH.Recent data from CryptoQuant has highlighted patterns in accumulation and exchange-traded fund (ETF) inflows, providing a detailed look at Ethereum’s potential trajectory as it underperforms relative to Bitcoin in the current cycle. […]
Silver Prices Hit A One-Month High
Image Source: Pixabay The Dow Jones (US30) was down 0.35% on Tuesday. The S&P 500 Index (US500) closed negative 0.30%. The Nasdaq Technology Index (US100) fell by 0.34%. Investors were cautious ahead of Wednesday’s expected consumer inflation report, which could significantly impact Federal Reserve policy. Despite the market decline, the indices remain near record highs, driven […]
Will Markets End 2024 On A High Note?
The close of another eventful year in the financial markets approaches. Focus now shifts to a seasonal phenomenon that has intrigued investors for decades: the Santa Claus Rally. Known for its tendency to boost stock prices during the final trading days of December and the early days of January, this rally is once again in the […]
