People’s Bank of China USD/CNY reference rate is due around 0115 GMT. The People’s Bank of China (PBOC), China’s central bank, is responsible for setting the daily midpoint of the yuan (also known as renminbi or RMB). The PBOC follows a managed floating exchange rate system that allows the value of the yuan to fluctuate within a certain range,…
Federal Reserve (Fed) Bank of San Francisco President Mary Daly noted late Monday that while she expects the Fed to continue slowly easing interest rates lower in the coming quarters, the Fed is still maintaining a data-dependent approach. Key highlights Daly sees ongoing rate cuts in the near future. Labor market slowdown is unwanted. No reason to halt rate…
2024.10.21 2024.10.21 Short-term Analysis for BTCUSD, XRPUSD, and ETHUSD for 21.10.2024 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 price may rise to the previous high. Consider long positions from the current level, with Take Profit…
Apart from the Leading indicators which have been forecasting a downturn for over 2 year now (there has only been one month that was positive since April 2022), the day was void of economic data. Yields were the focus today as they continued their move to the upside. The 10 year yield moved up 12.1 basis points at 4.195%,…
The Dow Jones shed 330 points, or 0.8%, as equities retreat from record highs. Bullish momentum is taking a breather, with the Dow Jones bearing the brunt of the load. Earnings season expectations are battling with elevated interest rate fears. The Dow Jones Industrial Average (DJIA) backslid on Monday, tumbling 330 points and shedding eight-tenths of one percent as…
2024.10.21 2024.10.21 What Will Cause the Euro to Drop? Forecast as of 21.10.2024 Dmitri Demidenkohttps://www.litefinance.org/blog/authors/dmitri-demidenko/ A Frexit? A Trump trade? Fears of the eurozone’s sliding into deflation? Which of these drivers may cause the EURUSD to collapse? There are so many negative factors that the euro will unlikely pull back. Let’s discuss it and make a trading plan. The…
More from Fed’s Kashkari: It was not the labor market that caused inflation Very few transactions happened on crypto, unless it’s drugs or illegal activity Iimmigration policy will affect our reading of the labor market Tariffs shouldn’t be themselves leading to ongoing inflation probably a one-time change in price level Definitely want to avoid a recesion. Saw signs of…
EUR/GBP remains range-bound, consolidating recent losses as buying pressure stalls. Sellers take the foot off the gas after last Thursday’s losses RSI indicates recovering buying pressure, while MACD shows flat conditions. In Monday’s session, the EUR/GBP rose slightly to 0.8330, hovering within a narrow range. The pair’s recent recovery attempt has stalled, leaving it in a state of consolidation….
2024.10.21 2024.02.08 Tezos (XTZ) price forecast for 2024, 2025-2030, and beyond Jana Kanehttps://www.litefinance.org/blog/authors/jana-kane/ Tezos (XTZ) stands out in the crypto world with its unique self-amending blockchain and a strong focus on community governance. The platform’s adaptability and innovative approach to smart contracts and decentralized applications suggest a promising future. While predictions lean towards a bullish trend for Tezos, investors…
Imagine having a GOOD trade idea. You know the one. It may come from a mentor, a social media whiz, or a premium signal group. It may even be the result of hours of analysis. The signs seem to line up, and you’re confident you’ve got the discipline needed to pull off your trading plan. You take the trade…