Pound Sterling Gains As BoE Bailey Sticks To Gradual Easing Approach
The Pound Sterling rises as BoE Governor Andrew Bailey sticks to follow a gradual policy-easing approach. Financial market participants expect the BoE to keep interest rates steady in the policy meeting on December 19. Fed Powell expects that the central bank has the comfort of becoming “cautious” on interest-rate cuts. The Pound Sterling (GBP) gains against […]
Elliott Wave Technical Analysis: U.S. Dollar/Japanese Yen – Thursday, Dec. 5
U.S. Dollar/Japanese Yen (USDJPY) Day Chart AnalysisUSDJPY Elliott Wave Technical Analysis Function: Bullish Trend Mode: Impulsive Structure: Navy Blue Wave 3 Position: Gray Wave 1 Direction (Next Higher Degrees): Navy Blue Wave 3 (Initiated) Details: Navy Blue Wave 2 appears completed, and Navy Blue Wave 3 is currently in progress. Wave Cancel Invalidation Level: 139.504 Analysis OverviewThe daily chart for USDJPY applies […]
Sensex Today Trades Higher And Nifty Above 24,500
Asia-Pacific markets traded mixed Thursday after Wall Street stock benchmarks notched record highs, shrugging off global political turmoil.Investors are continuing to monitor the political situation in South Korea and France.A tech rally boosted US stocks on Wednesday, with all three major indexes hitting new record closes, as investors digested Federal Reserve Chair Jerome Powell’s comments […]
BTC Report: Trading Volume Skyrockets, Price Soars Past $100k
Image Source: Pexels Bitcoin (BITCOMP) has once again captured the spotlight in financial, surging to unprecedented heights and sparking fervor across the financial landscape. The cryptocurrency has reached a new peak, hitting a record $103,091.89 and crossing the psychologically important $100,000 level.This monumental rise is fueled by a confluence of factors, including substantial inflows into spot […]
Gold Must Demonstrate Resilience To Downward Pressure For Sustained Upside Potential
Image Source: Pixabay Gold was little changed on Thursday as safe haven demand was limited despite France and South Korea turmoil. Experts believe that gold prices need to consolidate gains for further upside momentum. Traders are still pricing in a 73.8% probability of US Fed cutting rates by 25 basis points later this month. Gold […]
Lilly Tops Nordisk In Weight Loss Battle
The two market-leading weight loss/obesity drugs (GLP-1), Zepabound (Eli Lilly) and Wegovy (Novo Nordisk), just completed a clinical side-by-side trial. After 72 weeks of testing on 750 obese or overweight adults with at least one medical problem, Eli Lilly came out ahead by a substantial margin. Per Eli Lilly: Zepabound provided a 47% greater relative […]
USD/CAD Forecast: US Dollar Dips Slightly Against Loonie
During my daily analysis of the USD/CAD pair, the first thing that captures my attention is the 1.40 level below. The 1.40 level has been important multiple times, not only recently, but over the longer term as well. At this juncture, it looks like the market is trying to do everything it can to consolidate […]
Elliott Wave Technical Analysis IBEX 35 Index
IBEX 35 (Spain) Elliott Wave Analysis Trading Lounge Day ChartIBEX 35 Daily Chart AnalysisIBEX 35 Elliott Wave Technical Analysis Function: Bullish Trend Mode: Impulsive Structure: Gray Wave 3 Position: Orange Wave 3 Direction (Next Higher Degrees): Gray Wave 3 (Initiated) Details: Gray Wave 2 appears completed, and Gray Wave 3 within Orange Wave 3 is in progress. Wave Cancel Invalidation Level: 11,295.17 Analysis […]
Metal Markets Report For Wednesday, Dec 4
Image Source: PixabayIn this video, Ira Epstein reviews the day’s trading in the gold and other relevant metal markets.Video Length: 00:14:30More By This Author:Financial Markets Report For Wednesday, Dec 4Metal Markets Report For Tuesday, Dec 3Financial Markets Report For Tuesday, Dec 3
A Contrarian View On Recession Probabilities: Are We Out Of The Woods?
Image Source: PexelsAs I have observed before, the explanation for why we have not yet seen a recession’s onset in the data yet could be one of the following: (1) the model based on historical correlations is no longer applicable (DGP has changed), (2) we were using the wrong model, (3) the recession is yet to come, […]
