The AUD/JPY pair declined to 96.45 on Friday resuming the losses after three sessions with gains. However, technical indicators suggest a shift towards neutral territory, with the RSI moving out of the oversold zone and the MACD showing decreasing red bars. The cross will close a weekly gain of nearly 1% despite the losses. In Friday’s session, the AUD/JPY…
2024.08.09 2024.08.09 US Dollar Holds Steady after Jobs Relief. Forecast as of 09.08.2024 Dmitri Demidenkohttps://www.litefinance.org/blog/authors/dmitri-demidenko/ Disappointing US employment data has become a trap for EURUSD bears. The prospect of an economic downturn and the possibility of a significant reduction in the Federal Reserve’s interest rates have made the US dollar vulnerable. However, it has managed to find a way…
“I am not confident that inflation will decline in the same way as in the second half of last year.” Inflation still “uncomfortably above” 2% target Labor market showing signs of cooling, but uncertainties remain Upside risks to inflation persist, including housing and geopolitical factors Calls for patience in monetary policy decisions Critical of rapid regulatory changes in banking…
AUD/USD slightly retreats, settling near 0.6575 on Friday. RBA reiterates its hawkish stance, contributing to a buoyant AUD. Investors digest Chinese inflation reported during the European session. The AUD/USD pair witnessed a minor setback at 0.6575 during Friday’s session, a modest descent of 0.30%. That being said, the Reserve Bank of Australia’s (RBA) unwavering hawkish discourse and stronger Chinese…
2024.08.09 2024.08.09 Short-term analysis for BTCUSD, XRPUSD, and ETHUSD for 09.08.2024 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: subwave has started developing. Consider short positions from the current level with Take Profit at 48876.38. XRPUSD: the…
USD/JPY weekly What’s in a 19-pip move? That’s the total change in USD/JPY on the weekly chart. Of course it doesn’t tell the whole story, not even close. The pair cratered after hitting a 34-year high last month and had fallen more than 20 big figures by Monday. The drop came as the carry trade collapsed and that spiralled…
Developed economy labor markets are returning to more normal patterns. The collective mid-life crisis, when everyone decided that happiness was best achieved by changing employer, has faded. With less job churn, the relationship of job vacancies to unemployment has normalized, UBS macro analyst Paul Donovan notes. Flexible working may be improving labor market efficiency “Fewer workers quitting has lessened…
2024.08.09 2024.08.09 Short-term Analysis for Oil, Gold, and EURUSD for 09.08.2024 Alex Rodiоnovhttps://www.litefinance.org/blog/authors/alex-rodionov/ I welcome my fellow traders! I have made a price forecast for the USCrude, XAUUSD, and EURUSD using a combination of margin zones methodology and technical analysis. Based on the market analysis, I suggest entry signals for intraday traders. Oil maintains an upward correction. The article…
Oil rigs at 485 vs 482 prior Gas rigs 97 vs 98 prior There is a leveling-off of US drilling activity that partly reflects poor natural gas prices. Much of that market hinges on how could this winter is. This article was written by Adam Button at www.forexlive.com.
Gold price remains broadly firm on multiple tailwinds on Friday. Investors are divided over the size of Fed rate cuts in September. Fed officials acknowledge the softening of inflation and slowing labor demand. Gold price (XAU/USD) rises to near $2,430 in Friday’s New York session. The precious metal’s near-term outlook remains firm on strong speculation that the Federal Reserve (Fed) will start…