Jobs Day – Just Right
Futures saw little movement as US investors awaited the big November jobs report, in which payrolls were expected to bounce back from October’s hurricane-related weak print. The report was just released, and investors got just about what they expected. Headline jobs was slightly higher than expected (227K vs 220K), and October’s print was revised modestly lower. […]
Elliott Wave Technical Analysis: McDonald’s Corp. – Friday, Dec. 6
MCD Elliott Wave Analysis Trading LoungeMcDonald’s Corp., (MCD) Daily ChartMCD Elliott Wave Technical AnalysisFUNCTION: TrendMODE: ImpulsiveSTRUCTURE: MotivePOSITION: Wave {v} of 1.DIRECTION: Upside in wave {v}.DETAILS: We are looking for a top in wave 1 of (1) or what could also easily be wave (1) of Primary 5 as we have been trading around TradingLevel3 at 300$.McDonald’s Corp., […]
Job Growth Report Should Re-Accelerate – Markets Digesting For New Big Run
Today we have the “all-important” employment report which is the last high profile economic data point released before the Fed meets on the 18th. I am usually poor at guessing what the volatile number will be although I sense a quieter number than last month when we had weather and strikes impacting it. The economy […]
Bitcoin Sets New ATH Above $104,000, Yet Investors Don’t Want To Sell
Bitcoin has set a new all-time high (ATH) beyond the $104,000 mark during the past day, but on-chain data shows investors are still unwilling to sell. Bitcoin Exchange Netflow Has Remained Negative During Latest RallyAs explained by an analyst in a CryptoQuant Quicktake post, Bitcoin has continued to leave exchanges recently. The on-chain metric of relevance […]
100k Bitcoin
Turn on CNBC, and you will notice a bright green box permanently affixed to the bottom right corner with the ever-changing price of Bitcoin. Bitcoin is all the rage as market speculation across crypto and other assets is robust. Moreover, with Donald Trump putting Bitcoin-friendly appointees in key financial regulatory jobs, the price surge has […]
Gold Prices React To Fed Policy And Global Tensions: Key Insights For Traders
Image Source: Pixabay The Federal Reserve’s indication of a potential pause in its rate-cutting cycle has impacted gold prices. This has resulted in gold dropping to a one-week low. Higher interest rates reduce the appeal of non-yielding assets like gold, leading to a temporary decline in demand. However, lingering geopolitical tensions, such as Russia’s ongoing conflict […]
Daily Market Outlook – Friday, Dec. 6
Image Source: Pexels Risk in Asia declined on Friday amid renewed political tensions in South Korea, causing unease among investors ahead of the crucial U.S. nonfarm payrolls report, which could affect expectations for a Federal Reserve rate cut this month.The potential for another martial law declaration in South Korea triggered substantial selling pressure on the Korean […]
XAUUSD Poised For 2nd Straight Weekly Decline?
Global Drivers: Conflicts and economic fears boosted demand China’s Role: Central bank, consumers led gold buying spree Fed Policy Impact: Rate cuts, labor data influence gold prices Potential trading range: 2,588.29-2,701.02 (73.4% probability), Bloomberg Gold prices have been on a volatile but record-breaking ride in 2024, driven by a mix of global uncertainty and economic shifts.Early Friday, gold prices fell […]
Germany’s Industrial Slump Continued In October
Image Source: Pexels There’s still no end in sight to the industrial slump in Germany as industrial production dropped once again in October.The slump continues. German industrial production fell by 1% month-on-month in October from -2.5% MoM in September. On the year, industrial production is down by almost 5%. This is a very weak start to the […]
USD/CAD Rises To Near 1.4040, Tracks US Dollar’s Action Ahead Of US NFP Data
Photo by Michelle Spollen on Unsplash USD/CAD moves higher to near 1.4040 as the US Dollar gains ahead of the US Nonfarm Payrolls data. Investors expect the Fed to cut interest rates by 25 bps in the monetary policy meeting on December 18 The Canadian economy is estimated to have added fresh 25K workers in November. The USD/CAD pair […]
