The Atlanta Fed GDPNow growth estimate for 4Q remains at 3.3%. In their own words: The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the fourth quarter of 2024 is 3.3 percent on December 9, unchanged from December 5 after rounding. After recent releases from the US Census Bureau and the US Bureau of Labor…
The Dow Jones marked out familiar territory near 44,600. Equity traders were pushed into a cautious stance after a policy pivot from China. Investors will get a breather from high impact data until midweek CPI inflation figures. The Dow Jones Industrial Average (DJIA) churned near 44,600 as equities kick off the new trading week on a quiet note. Markets…
2024.12.09 2024.12.09 Short-term Analysis for BTCUSD, XRPUSD, and ETHUSD for 09.12.2024 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: Major Takeaways BTCUSD: The price may decline in a bearish correction. Consider opening short positions from the current level with Take Profit…
A common misconception in any high-performance endeavor is that practice makes perfect. After all, the body usually learns to perform actions through repetition. That is, if you repeat a routine often enough, you will become proficient in it, and eventually your responses will become automatic. But repetition does not always guarantee proficiency. You could be doing the same (wrong)…
Gold has a seasonal tailwind in Dec-Jan and now it has a fundamental one. China’s central bank resumed buying gold for the first time in six months, weekend data revealed. China had halted purchases in May in a move that signalled price sensitivity above $2400/oz. However it looks like they’ve had a change of heart and are now buying…
The Pound Sterling gains against the US Dollar amid increasing bets that the Fed will cut interest rates by 25 bps on December 18. Fed Governor Michelle Bowman vowed to be cautious on interest rate cuts as price pressures are still elevated. Higher contributions by UK employers to the National Insurance norm in Labour’s first budget have weighed on labor…
2024.12.09 2024.12.09 Yen Trades Flat Amid Mixed Sentiment. Forecast as of 09.12.2024 Dmitri Demidenkohttps://www.litefinance.org/blog/authors/dmitri-demidenko/ The press and Bank of Japan officials are uncertain whether the regulator should raise rates in December. The data indicates that the normalization cycle will continue. What will happen, and how will it affect the USDJPY pair? Let’s discuss this topic and make a trading plan….
The upcoming RBA decision could reinforce the Australian central bank’s position as one of the more hawkish ones around, as policymakers are expected to keep rates on hold again. Our Event Guide for the RBA Statement highlighted how the previous meeting minutes and Governor Bullock’s testimonies mentioned how inflation remains “too high” for them to even consider easing…
Fundamental Overview The Chinese Politburo announced that it will adopt a “moderately loose” strategy for monetary policy for 2025, which marked the first major shift in stance since 2011. Moreover, the language around fiscal policy was stepped up to “more proactive” from just “proactive” in another sign that Chinese officials intend to ease policies more forcefully to prop up…
ASX: WISETECH GLOBAL LIMITED – WTC Elliott Elliott Wave Technical Analysis TradingLounge. Greetings, Our Elliott Wave analysis today updates the Australian Stock Exchange (ASX) with WOOLWORTHS GROUP LIMITED – WOW. We see ASX:WTC continuing to move higher with a 5-grey wave. ASX: Wisetech Global Limited – WTC 1D chart (semilog scale) analysis Function: Major trend (Minor degree, grey). Mode: Motive. Structure: Impulse. Position: Wave…
