AUD/USD consolidates around 0.6200 amid thin trading volume following the Christmas and Boxing Day holidays. The RBA becomes confident over inflation easing in line with their expectations. The Fed turns cautious in interest rate cuts as progress in inflation towards the central bank’s target of 2% has stalled. The AUD/USD pair trades in a very tight range near the…
2024.12.27 2024.12.27 GBP/USD: Elliott Wave Analysis and Forecast for 27.12.24 – 03.01.25 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 1.2664 with a target of 1.2240 – 1.1900. A sell signal: the price holds below 1.2664. Stop Loss: above 1.2690, Take Profit: 1.2240 – 1.1900. Alternative…
WTI crude oil settled 98-cents higher today to $70.43. Oil traded up to $88 early last year but has been treading water near $70 for months. The opening level of the year was $71.65 so it’s on track for a small decline this year. Today’s EIA US oil inventory data: Crude -4237K vs -1867K expected Gasoline +1630K vs -1080K…
NZD/USD gains to near 0.5630 as the US Dollar ticks lower in a thin trading volume day. The Fed is expected to cut interest rates two times next year. Investors expect that the RBNZ will cut interest rates by 50 bps in February. The NZD/USD pair moves higher to near 0.5630 in Friday’s North American session. The Kiwi pair…
2024.12.27 2024.12.27 USD/JPY: Elliott Wave Analysis and Forecast for 27.12.24 – 03.01.25 Alex Geutahttps://www.litefinance.org/blog/authors/alex-geuta/ The article covers the following subjects: Major Takeaways Main scenario: After the correction ends, consider short positions below the level of 161.75 with a target of 138.00 – 131.40. A sell signal: if the price holds below 161.75. Stop Loss: above 162.10, Take Profit: 138.00…
Treasury Secretary Janet Yellen fired off a warning shot to Congress today, flagging a critical debt ceiling timeline that could rattle markets in early 2025. Debt ceiling reinstates Jan 2 Default risk window: Jan 14-23 Treasury to deploy ‘extraordinary measures’ if needed The timing adds another layer of complexity to an already heated political environment following the presidential inauguration….
The Pound Sterling rises even though investors expect the BoE to follow a less gradual policy easing cycle in 2025 than previously anticipated. Traders project at least two BoE interest rate cuts of 25 bps next year. US Initial Jobless Claims surprisingly fell to 219K last week. The Pound Sterling (GBP) gains against its major peers on Friday, with investors looking for…
2024.12.27 2024.12.27 WTI Crude Oil: Elliott Wave Analysis and Forecast for 27.12.24 – 03.01.25 Alex Geutahttps://www.litefinance.org/blog/authors/alex-geuta/ The article covers the following subjects: Major Takeaways Main scenario: After the correction ends, consider short positions below the level of 78.88 with a target of 61.50 – 53.60. A sell signal: the price holds below 78.88. Stop Loss: above 79.20, Take Profit:…
Let’s finish our recap of the year for gold by breaking down the solid uptrend then consolidation in the precious metal between June and December. Once again, gold is the king reserve asset for many and tends to react to all kinds of themes and catalysts. It’s also a super liquid trading asset so it’s always one to…
Closing changes: S&P 500 -1.1% Nasdaq Comp -1.5% DJIA -0.8% Russell 2000 -1.6% Toronto TSX Comp -0.2% On the week: S&P 500 +0.7% Nasdaq Comp +0.8% DJIA +0.4% Russell 2000 +0.1% Toronto TSX Comp +0.8% We get two more days of trading before the scoreboard resets at zero. This article was written by Adam Button at www.forexlive.com.
