China sets loan prime rate (LPRs) on Monday, October 21, 2024. Last month the PBoC cut the 7-day reverse repo rate, and the Medium-term Lending Facility (MLF) rate: and a matching cut to LPRs is expected tomorrow. Indeed, on Friday PBoC Governor Pan foreshadowed Monday’s rate cut, by 20 to 25 basis points he says. Current LPRS are: 1-year…
Mexican Peso gained 0.90% earlier on Friday but erased gains amid a weaker US Dollar. US Dollar Index hit a two-month high before retreating to 103.48, down 0.23% on Friday. China’s stimulus measures provided brief support to the Peso. The Mexican Peso remained firm against the US Dollar on Friday yet erased earlier gains, which saw the emerging market…
The EURUSD is trading higher and is approaching key resistance near 1.0871 to open 08746. Within that area is the 100 hour moving average at 1.0871 61.8% retracement of 1.08746 200 day moving average at 1.0872 The high price yesterday reached 1.0873. The area is key for both buyers and sellers. A move above, gives the buyers some hope….
EUR/USD rebounded on Friday, clipping a week-long losing streak. A last-second recovery in Fiber bids came from broad-market Greenback weakness. The Euro remains poised for further losses after another rate cut from the ECB this week. EUR/USD drifted into a rebound on Friday, snapping a four-day losing streak. A wider selloff in Greenback flows off the back of a…
2024.10.18 2024.10.18 Short-term Analysis for BTCUSD, XRPUSD, and ETHUSD for 18.10.2024 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 again. Consider long positions from the current level with Take…
Mon: PBoC LPR Tue: NBH Announcement, IMF World Economic Outlook Wed: BoC Announcement Thu: EZ/UK/US Flash PMIs (Oct) Fri: PBoC MLF (TBC), CBR Announcement, Japanese Tokyo CPI (Oct), German Ifo (Oct), US Durable Goods (Sep), US University of Michigan Final (Oct) PBoC LPR (Mon): PBoC will announce the latest Loan Prime Rates next week in which Chinese banks are…
Gold rises 0.98%, reaching $2,720 as geopolitical tensions and US election concerns drive demand for safe-haven assets. Falling US Treasury yields and the weakening US Dollar further boost Bullion prices, with the US Dollar Index dropping to 103.45. Analysts predict continued Gold gains with Citi’s Max Layton forecasting prices could reach $3,000 an ounce within 6-12 months. Gold prices…
2024.10.18 2024.10.18 Short-term Analysis for Oil, Gold, and EURUSD for 18.10.2024 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. Gold continues to trade in a short-term…
Not in a rush to get to neutral Will be patient We needed to move policy rate because risks had shifted Labor market is strong, inflation has come down a long way, my job is now to take it all the way home Still a lot of uncertainty on prices and consumer spending This article was written by Adam…
There has been a notable change in market perceptions regarding the pace and quantity of potential Fed and ECB rate cuts in recent weeks, Rabobank’s FX analyst Jane Foley notes. Latest developments underpin downside risks for EUR/USD “Speculation that the Fed could follow September’s 50 bps rate cut with another similarly sized move has been blown away by a…