The Canadian Dollar was broadly softer, but gained against USD on Friday. Canada is due to release its latest CPI inflation update next week. US consumer sentiment ticked higher in August, sparking an uptick in risk appetite. The Canadian Dollar (CAD) was overall softer on Friday, shedding weight across the currency board, but still found gains against the risk-appetite-weakened…
A note from economists at the investment bank. I haven’t spotted it yet but news wires carrying the highlights. In summary: cuts US recession likelihood to 20% from 25%, and says it may cut further, to 15%, if the nonfarm payroll report for August is ‘reasonably good’ GS cite the retail sales data, best since early in 2023, and…
NZD/JPY mildly rose to 89.30, testing the 20-day SMA. The RSI is near 50 while the MACD shows flat green bars, signaling that the momentum is sideways. A jump above the 20-day SMA would confirm a bullish outlook. The NZD/JPY pair gained ground in Friday’s session, climbing to 89.30. The uptick follows side-ways movements during the week, but the…
The US dollar is under broad pressure as risk trades improve and we tick towards the weekend. Earlier, Treasury yields were low and that that should have weighed on the dollar but didn’t. AUD/USD has rose to the highest since July 21 in the latest leg. This article was written by Adam Button at www.forexlive.com.
USD slid following the University of Michigan Sentiment figures and housing market data. Markets remain confident about a cut in September. Greenback might continue being sensitive on data releases. On Friday, the US Dollar (USD), as measured by the US Dollar Index (DXY), experienced a decline following the release of the University of Michigan’s Consumer Sentiment Index figures and…
2024.08.16 2024.08.16 Short-term Analysis for BTCUSD, XRPUSD, and ETHUSD for 16.08.2024 Roman Oneginhttps://www.litefinance.org/blog/authors/roman-onegin/ Dear readers, I’ve prepared a short-term forecast for Bitcoin, Ripple, and Ethereum based on the Elliott wave analysis. The article covers the following subjects: Highlights and key points BTCUSD: the pair may continue to correct to the high of 62783.93. Consider long trades at the current level with a take-profit at 62783.93. XRPUSD: the…
We started the week at 2.9% and finish at 2.0%. I would be worried about that if we were anywhere close to Q3 GDP numbers but the prelim estimate is still months away and vol early in the cycle is normal. “After this morning’s housing starts report from the US Census Bureau, the nowcast of third-quarter real gross private…
AUD/USD shows an increase, climbing to 0.6950. RBA’s Bullock was on the wires and maintained its hawkish stance. A weaker USD also benefited the Aussie. The AUD/USD pair experienced an increase of 0.40% during Friday’s session, settling near 0.6950. Mixed sentiment data from the United States combined with the words of Reserve Bank of Australia’s (RBA) Governor Michele Bullock…
2024.08.16 2024.08.16 US Dollar Edges Higher on Robust Data. Forecast as of 16.08.2024 Dmitri Demidenkohttps://www.litefinance.org/blog/authors/dmitri-demidenko/ The release of robust retail sales and labor market data, coupled with an upbeat Walmart report, allayed concerns about a potential recession in the US, prompting a sell-off in the EURUSD pair. However, the bearish sentiment was subdued. What is the precise reason for…
Mt. Gox fund liquidation weighed heavily on bitcoin yesterday in what was an otherwise-strong environment for risk assets. It’s been a tricky run for bitcoin as it disconnects from the tight correlation to the Nasdaq. I think that connection is ultimately restored and it climbs back into the $64,000 range but I also think the market is partly trading…