Fed’s Barr Fed vice chair for supervision Michael Barr is worried. He was appointed in 2022 for a term that lasts until 2032 but is worried that Trump may try to remove him. Reuters reports that he sought advice from law firm Arnold & Porter. I’m doubt this is meaningful for markets but it does speak to real worries…
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2024.12.20 2024.12.20 The Canadian Dollar Faces a Challenging Road. Forecast as of 20.12.2024 Dmitri Demidenkohttps://www.litefinance.org/blog/authors/dmitri-demidenko/ The political crisis in Canada has further compounded the visibly cooling labor market, weak economy, and concerns about 25% U.S. tariffs. Тhis onslaught of negative factors pushed the USDCAD quotes up. Let’s discuss it and make a trading plan. The article covers the following…
Forex traders were on their toes throughout the week, as another batch of major central bank announcements and a busy economic calendar rocked the markets.
The major U.S. stock indices ended the day with gains of 1% or more for all three major benchmarks, but they closed lower for the week. Here’s a detailed snapshot: Closing Levels (Daily Gains): Dow Jones Industrial Average: rose 498.82 points (+1.18%) to close at 42,841.06. S&P 500 Index: rose 63.79 points (+1.09%) to close at 5,930.87. NASDAQ Composite:…
In an interview with CNBC on Friday, Federal Reserve (Fed) Bank of Chicago President Austan Goolsbee said that they are still on a path to get to 2% inflation, adding that it was ‘nice’ to get an inflation number that’s better than expected. Key takeaways “There’s more uncertainty, noise.” “My projections were for a little more shallow rate-path in 2025.”…
2024.12.20 2024.12.20 GBPUSD: Elliott Wave Analysis and Forecast for 20.12.24 – 27.12.24 Alex Geutahttps://www.litefinance.org/blog/authors/alex-geuta/ The article covers the following subjects: Major Takeaways Main scenario: Consider short positions from corrections below the level of 1.2735 with a target of 1.2240 – 1.1900. A sell signal: the price holds below 1.2735. Stop Loss: above 1.2765, Take Profit: 1.2240 – 1.1900. Alternative…
All eyes and ears were on the last FOMC statement for the year, although a few surprise catalysts still caused huge swings in overall sentiment. For instance, mostly downbeat data points from China weighed on risk appetite early on while the Dow chalked up its largest losing streak since 1978. Bitcoin, on the other hand, snagged fresh…
Markets: S&P 500 up 1.1% WTI crude up 15-cents to $69.53 US 10-year yields down 4.2 bps to 4.52% Gold up $30 to $2623 JPY leads, USD lags The mood shifted sharply on Friday as stocks looked set for another rout in the pre-market only to reverse higher. The FX market followed a similar pattern, though the moves were…
US PCE data showed softer inflation, reducing Fed’s urgency for aggressive rate hikes. BoE held rates at 4.75%, with divisions on potential rate cuts in 2025. UK Retail Sales missed expectations, with weak demand in clothing. The GBP/USD pair rebounded towards 1.2540 after the release of US inflation data and the Bank of England’s (BoE) monetary policy decision on…
