The minutes of the September decision revealed that a “substantial majority” voted for a 50 basis-point interest rate reduction to the 4.75% – 5.00% target range, mostly because it would bring rates to “better alignment with recent indicators of inflation and the labor market.” It may have helped that “some participants” already found a “plausible case” for a 25bps…
Fundamental Overview The USD rallied across the board last Friday following the hot US NFP report. The market priced out all the aggressive rate cuts expectations and it’s now finally in line with the Fed’s projections. This week, the greenback extended the gains as the market started to price in some chances of a pause in November. The focus…
Reading through the September FOMC minutes, there seemed no sense of urgency from the Fed to get rates lower – even though it did cut by 50bp. More a sense that the inflation scare was over, unemployment was drifting higher and a risk management approach required a recalibration of policy. There were not any strong signals about how quickly rates would be…
2024.10.10 2024.10.10 Short-term Analysis for BTCUSD, XRPUSD, and ETHUSD for 10.10.2024 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 The market continues evolving according to the previous forecasts. BTCUSD: the rate is expected to decline in impulse…
Are crude oil bears about to stay in the game for much longer? A look at the energy commodity’s daily time frame shows a large descending triangle pattern that’s been holding since November last year. WTI Crude Oil (USOIL) Daily Chart by TradingView Earlier this week, we looked at a potential break-and-retest setup on the 4-hour chart of crude…
There are a couple to take note of on the day, as highlighted in bold. The first being for USD/JPY at the 149.50 level. And that could help to act as a bit of a magnet to lock price action in before we get to the US CPI report later in the day. The pair remains buoyed amid the…
Gold prices rose in India on Thursday, according to data compiled by FXStreet. The price for Gold stood at 7,051.02 Indian Rupees (INR) per gram, up compared with the INR 7,038.39 it cost on Wednesday. The price for Gold increased to INR 82,241.77 per tola from INR 82,094.45 per tola a day earlier. Unit measure Gold Price in INR…
A lack of fresh market catalysts kept the major assets in ranges early in the day, before central bank speculations and positioning ahead of the U.S. CPI reports caused increased volatility in the U.S. session. Which assets saw the most action? We’re discussing yesterday’s market headlines and price reactions! Headlines: RBNZ slashes rates by 50 bps, signals further easing…
Later today, Thursday, 10 October 2024, we get the US consumer inflation data for September. Due at 1230 GMT, which is 0830 US Eastern time. What to expect. This snapshot from the ForexLive economic data calendar, access it here. This snapshot from the ForexLive economic data calendar, access it here. The times in the left-most column are GMT. The…
The Australian Dollar remains under selling pressure in Thursday’s Asian session. The firmer USD and lack of further China’s stimulus measures drag the pair lower. The US CPI inflation data will be in the spotlight on Thursday. The Australian Dollar (AUD) extends its decline on Thursday. The stronger US Dollar (USD) amid rising speculation of a 25 basis points…
