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 […]
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 […]
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 […]
Daily Market Outlook – Wednesday, Dec. 11
Image Source: Pixabay Asian markets declined as investors awaited key US inflation figures to assess whether the Federal Reserve will lower or maintain interest rates in the upcoming week. China’s top policymakers are currently engaged in discussions regarding the potential decision to permit the yuan to depreciate in 2025. This consideration arises in the context of […]
Fed Balance Sheet Continues To Decline
Image Source: Pixabay Fed Balance SheetBelow is a chart posted and updated regularly by the Federal Reserve Bank of St. Louis… As can be seen in the above chart, total assets of the Federal Reserve Bank have declined by 22 percent since peaking in March 2022. The aforementioned peak was nearly simultaneous with the announcement by […]
Elliott Wave Technical Analysis: U.S. Dollar/Swiss Franc – Wednesday, Dec.11
USDCHF Elliott Wave Analysis – Trading Lounge Day Chart U.S. Dollar/Swiss Franc (USDCHF) Day ChartUSDCHF Elliott Wave Technical Analysis Function: Bullish Trend Mode: Impulsive Structure: Navy Blue Wave 3 Position: Gray Wave 3 Direction (Next Higher Degrees): Navy Blue Wave 3 (initiated) Details: Navy Blue Wave 2 appears complete, with Navy Blue Wave 3 currently in progress. Wave Invalid Level: 0.87344 The USDCHF […]
GBP/JPY Trades Above 194.00 After Recovering Recent Losses, US CPI Eyed
Photo by Colin Watts on Unsplash GBP/JPY recovers daily losses ahead of the US inflation report. The JPY depreciates due to uncertain expectations for BoJ’s further rate hikes. The Pound Sterling receives support from the increased likelihood of the BoE to keep its rates unchanged at 4.75% in December. GBP/JPY recovers its daily losses and extends its […]
