The Reserve Bank of Australia (RBA) kept its cash rate target unchanged at 4.35% today, maintaining its hawkish stance on inflation while acknowledging economic uncertainties. This decision was widely expected by market participants, as covered and anticipated in the Babypips.com Event Guide. Key points from the RBA statement: Inflation remains above target and is proving persistent Current forecasts do…
The USD is continuing its run to the downside with the greenback trading at new lows for the day vs ALL the major currencies. EURUSD: The EURUSD is trading to a new intraday high of 1.11661. That is just short of the high from yesterday at 1.11665. Move above and the high from Friday at 1.1181 and the high…
Mexican Peso strengthens after US Consumer Confidence deteriorated. Mexico’s inflation fell below estimates in September, with core inflation easing under 5%, boosting expectations for a 25 bps rate cut by Banxico on Thursday. Analysts expect Banxico to lower rates from 10.75% to 10.50%, citing falling inflation, weaker economic activity and Fed easing. The Mexican Peso advanced against the US…
2024.09.24 2024.09.24 Short-term Analysis for BTCUSD, XRPUSD, and ETHUSD for 24.09.2024 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: the price is trading in a bullish impulse wave within correction B. Consider a long position at current levels,…
It looks like this precious metal busted out of that reversal pattern we were watching earlier and is now gaining traction on its climb. Can it go for a major correction soon? Check out these inflection points I’m watching on the 4-hour chart! Silver (XAG/USD) 4-hour Forex Chart by TradingView Gold has recently surged to fresh all-time highs once…
The USDCAD is also moving lower and following the USD bias. The price is trading at the lowest level since September 6 when the price bottomed at 1.3465. That level was just above the August 30 low price reached at 1.34643 (double bottom). The low price today has reached 1.3474 so far. Buyers looking to stick a toe in…
Crude Oil poped above $72 earlier, though eases in US trading. Florida braces for potential Tropical Cyclone Nine. The US Dollar Index steadies despite a surge in US yields. Crude Oil pops higher on Tuesday with a mixture of supportive data that started after the Chinese government launched a 500 billion Yuan (CNY) stimulus plan to reboot its economy….
2024.09.24 2024.09.24 Gold Soars to Fresh Record High. Forecast as of 24.09.2024 Dmitri Demidenkohttps://www.litefinance.org/blog/authors/dmitri-demidenko/ While the weakening of the Fed’s monetary policy, India’s insatiable demand, capital inflows into ETFs, geopolitical factors, and rising default risks in the US are significant contributors to the XAUUSD rally, there are other factors that investors should consider. Let’s discuss this topic and make…
Now that the RBA decided to keep rates unchanged at 4.35% as expected, can the upcoming Australia CPI release support their upbeat view? Expectations are for a slowdown in headline price pressures from 3.5% year-on-year to 2.7% in August, which still leaves annual inflation above target. Check out this reversal pattern breakout and potential continuation I’m watching…
An October cut isn’t totally excluded. Too early to have strong view on October meeting. It will be easier to decide on cut in December. Services inflation needs to slow further. This article was written by Giuseppe Dellamotta at www.forexlive.com.
