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September 24, 2022 3:49 pm | Uncategorized
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Event Guide: BOJ Monetary Policy Statement (December 2024)
December 21, 2024 10:51 am | FOREX NEWS
Will BOJ Governor Ueda and his fellow policymakers agree to tighten policy this week? Or are they more likely to sit on their hands for the time being?
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Chart Art: EUR/CAD Approaches Key Resistance Zone
December 21, 2024 10:33 am | FOREX NEWS
EUR/CAD is eyeing a MAJOR area of interest. Will we see the pair extend its gains? Or will bears step in at the 1.5150 resistance zone?
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Short-Term Analysis for BTCUSD, XRPUSD, and ETHUSD for 18.12.2024
December 21, 2024 10:26 am | FOREX NEWS
Dear readers, I’ve prepared a short-term forecast for Bitcoin, Ripple, and Ethereum based on the Elliott wave analysis. Major Takeaways BTCUSD: The price may rise in the fifth part of impulse (3). Consider long positions from the current level with Take Profit at 117,117.00. XRPUSD: Expect an increase toward the previous high. Consider long positions with Take Profit at 2.906. ETHUSD: Bullish momentum will likely drive the price upwards. Consider buying from the current level with Take Profit at 4,586.80. Elliott Wave Analysis for Bitcoin BTCUSD has presumably formed a correction [4] as a double zigzag (W)-(X)-(Y). A new bullish wave is developing in… Read full author’s opinion and review in blog of #LiteFinance
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Chart Art: WTI Crude Oil (USOIL) Resistance Turned Support?
December 21, 2024 10:11 am | FOREX NEWS
WTI crude oil recently busted through its descending triangle top, hinting that a rally of the same height as the formation is due.
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Event Guide: FOMC Statement (December 2024)
December 21, 2024 8:31 am | FOREX NEWS
The Fed is widely expected to cut its interest rates by 25bps this week. How might the U.S. dollar react to the news, and how can you trade the event?
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Economic Calendar for the Week 23.12.2024 – 29.12.2024
December 21, 2024 5:15 am | FOREX NEWS
The upcoming week of 23.12.2024 – 29.12.2024 is the last regular trading week of the month and the year. On the night of December 24–25, Christians, mostly in Catholic countries, will celebrate Christmas, and the world will prepare to welcome the New Year 2025. There will be minimal macroeconomic data published during this time. Besides, next week, trading volumes will be low, and the market will be thin. Note: During the coming week, new events may be added to the calendar, and/or some scheduled events may be canceled. GMT time Major Takeaways Monday: UK GDP. Tuesday: no important macro statistics is… Read full author’s opinion and review in blog of #LiteFinance
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EU consumer confidence flesh for December -14.5 versus -13.7 last month
December 21, 2024 5:09 am | FOREX NEWS
- Prior month -13.7
- EU consumer confidence flesh for December -14.5% versus -14.0 estimate:
The high for the year was -12.5 in November. The low for the year was -16.1 in January
This article was written by Greg Michalowski at www.forexlive.com.
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University of Michigan consumer sentiment final 74.0 versus 74.0 preliminary
December 21, 2024 4:54 am | FOREX NEWS
- Prior month 71.8
- consumer sentiment Index 74.0 versus 74.0 estimate 74.0 preliminary. Last month 71.8. Best reading since April
- Current conditions 75.1 versus 77.7 preliminary and 63.9 last month. Best since April still.
- Expectations 73.3 versus 71.6 preliminary and 76.9 last month.
- One year inflation 2.8% versus 2.9% preliminary and 2.6% last month.
- Five year inflation 3.0% versus 3.1% preliminary and 3.2% last month.
A summary of comments from Consumers Director Joanne Hsu
- Consumer sentiment rose for the fifth consecutive month, reaching its highest level since April 2024.
- Buying conditions improved by 32%, driven by expectations of future price increases for large purchases.
- Expectations index showed:
- Improvement among Republicans.
- Decline among Democrats.
- Stability among Independents.
- Consumers recognize economic improvements as inflation slows but do not feel they are thriving.
- Sentiment remains midway between the June 2022 all-time low and pre-pandemic levels.
- Year-ahead inflation expectations increased to 2.8%, the first rise since May, but within pre-pandemic ranges (2.3%-3.0%).
- Long-term inflation expectations declined slightly to 3.0%, modestly elevated compared to pre-pandemic levels.
The survey data can be politically influenced. Therefore not surprised to see the Republicans are on the up and up and the Democrats are on a decline. Independents are neither happier or sadder.
This article was written by Greg Michalowski at www.forexlive.com.
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Fed’s Goolsbee: Nice to get inflation number that is better than expected
December 21, 2024 3:26 am | FOREX NEWS
- Nice to get inflation number that is better than expected
- There is more uncertainty noise
- Still on path to get to 2% inflation.
- Today stations recent ferment was a bump.
- Next 12 to 18 months, rates can go down a paramount.
- Employment is stable, want to keep it stable, to do so rates need to come down to something like neutral.
- Agree policy rate is still far from neutral rate
- The Fed is significantly less restrictive than we were
- The neutral rate is around 3%.
- Our goal is to get inflation down to 2% and incomes would rise faster than the prices
- Anything that will impact jobs and prices we try to process
- When the new administration is in, we will process what policy does for inflation and employment
- Uncertainty on policy as part of why I feel rate path next year is a bit more shallow.
- Rates will come down by a judicious amount next year
- Rate path will be determined by employment and prices
- We might be more dependent on data and the conditions and the economic outlook
- If look at the dot plot, what is the long run neutral rate is below the level today.
- The last 6-months of PCE inflation is very close to 2%
- Recent inflation has been higher than expected, for sure bumps can happen and policy uncertainty, but its clear inflation is heading toward 2%.
US stocks are now higher on the day with:
- Dow up 0.84%
- S&P up 0.70%
- NASDAQ index up 0.60%
The small-cap Russell 2000 is now up 1.06%.
Looking at the US debt market
- 2 year 4.293%, -2.6 basis points
- 5 year 4.362%, -6 1 basis points
- 10 year 4.516%, -5.4 basis points
- 30 year 4.710%, -3.2 basis points
This article was written by Greg Michalowski at www.forexlive.com.
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USD/CAD fails at 1.4435 and pulls back below 1.4400 weighed by a softer US Dollar
December 21, 2024 3:12 am | FOREX NEWS
From a wider perspective, the pair maintains its broader positive bias intact and is on track to complete a four-week rally from levels below 1.4000 in late November.
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US stocks continue to rise. NASDAQ index 202 points after being down -204 points at lows
December 21, 2024 2:44 am | FOREX NEWS
The major US indices have continued their runs to the upside as the fears of a government shutdown fades, and comforting words from Fed Goolsbee (he is a dove).
Looking at the major indices:
- Dow industrial average is not 512 points or 1.21% and 42856.45.
- S&P index is up 68.52 points or 1.17% and 5935.56.
- NASDAQ index is up 224 points or 1.16% at 19595.93.
At intraday session lows:
- Dow was down -195.95 points
- S&P was down -34.78 points.
- NASDAQ index is down -204.39 points.
US yields remain lower with the tenure down -6.0 basis points. The two year is down a more modest -2.6 basis points.
For the trading week, yields are still higher with the 10-year yield still up 10.9 basis points. The 2-year is up 5.0 basis points.
The high watermark for the week was up 19.3 basis points for the 10 year yield and 12.0 basis points for the two year yield.
This article was written by Greg Michalowski at www.forexlive.com.
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USD slips, market jitters rise – Scotiabank
December 21, 2024 2:37 am | FOREX NEWS
Markets are ending the week of a bit of a sour note. The USD has been clipped back somewhat in overnight trade as investors ponder a looming US government shutdown.
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