The Greenback started the week on a strong note in a context where investors’ prudence prevailed ahead of key data releases in the US economy, where the labour market is seen taking centre stage. Here is what you need to know on Tuesday, October 1: The US Dollar Index (DXY) reversed two consecutive daily pullbacks and charted a marked…
2024.09.30 2024.09.30 US Dollar Showcases Old Tricks. Forecast as of 30.09.2024 Dmitri Demidenkohttps://www.litefinance.org/blog/authors/dmitri-demidenko/ Following a successful outcome in September, investors are keen to replicate a similar result in November. They are monitoring the comments of FOMC officials and statistics in order to ascertain the extent of the Fed rate cut. Let’s discuss this topic and make a trading plan…
The European Central Bank (ECB) is under pressure to cut rates again in October, as recent data points to slowing growth and easing inflation in the Euro Area. This week’s German and Euro Area CPI reports could intensify that pressure. According to our Event Guide, indicators suggest inflation in September might be lower than in August. Will…
The US dollar is at the highs of the day across the board after a pair of important comments from Powell. 1) In the first, he said that GDI revisions last week removed a downside risk for GDP. The fear was that GDP would be revised down to GDI, instead it was GDI revised up to GDP. Powell noted…
Mexican Peso strengthens to 19.60 against the Greenback, supported by anticipation ahead of Claudia Sheinbaum’s October 1 inauguration. Business Confidence for September, expected on October 2, could mark a fourth consecutive month of improvement. Despite Peso gains, the US Dollar Index rises by 0.20% as stronger US economic data bolsters the Greenback. The Mexican Peso begins the week on…
2024.09.30 2024.09.30 Short-term Analysis for BTCUSD, XRPUSD, and ETHUSD for 30.09.2024 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: an impulse wave continues evolving as part of correction B. Consider buying from the current level with…
Most traders spend a lot of time and effort picking their trade entries but forget to plan their exits. But what use is a well-timed and properly executed entry if you aren’t able to minimize your losses or maximize gains? As you’ve probably learned through experience, the market doesn’t always go your way. Even if you’ve done all the…
The USDCHF moved down on Friday and once again moved closer to the low of the up and down swing area that has confined most of the trading going back to around August 20. The low for that swing area comes in near 0.8400, and on Friday and again today, that area was tested and ultimately found support. The…
While testifying before the European Parliament’s Committee on Economic and Monetary Affairs on Monday, European Central Bank (ECB) President Christine Lagarde said that they expect the economic recovery in the Eurozone to strengthen over time. Key takeaways “Looking ahead, the suppressed level of some survey indicators suggests that the recovery is facing headwinds.” “The labour market remains resilient.” “Employment…
2024.09.30 2024.09.30 Yen Soars After New LDP Leader Elected. Forecast as of 30.09.2024 Dmitri Demidenkohttps://www.litefinance.org/blog/authors/dmitri-demidenko/ The new Prime Minister of Japan holds hawkish views, which will allow the Bank of Japan to continue normalizing monetary policy and contribute to the downtrend on the USDJPY pair. Let’s discuss this topic and make a trading plan. The article covers the following…
