Gold prices jump over 1% after Fed Chair Powell hints at upcoming rate cuts, expressing confidence in inflation nearing the 2% target. The US Dollar Index (DXY) falls 0.82% to 100.68, as Powell’s remarks push traders to bet on a 50 bps rate cut in September. US 10-year Treasury yields drop five basis points to 3.80%, supporting bullion’s rise,…
2024.08.23 2024.08.23 Short-term Analysis for BTCUSD, XRPUSD, and ETHUSD for 23.08.2024 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 pair continues to decline in correction (2) toward 55901.27. Consider short trades at the current level with a take-profit order placed…
Almost everyone on the committee thinks inflation is coming down and that there will be multiple cuts over calendar 2024 and 2025 Speed and size of cuts to be determined by economic data Neutral rates are ‘far from where we are’ There is some question on the strength of the consumer, that said if you look at the spending…
Federal Reserve (Fed) Bank of Philadelphia Patrick Harker hit newswires on Friday, noting that Fed moves on interest rates need to be “methodical”, telegraphing that policymakers are targeting a series of cuts through the rest of 2024 as the US central bank gears up for a dovish pivot. Key highlights We need to start moving rates down. The Fed…
2024.08.23 2024.08.23 USDСAD: Elliott wave analysis and forecast for 23.08.24 – 30.08.24 Alex Geutahttps://www.litefinance.org/blog/authors/alex-geuta/ The article covers the following subjects: Highlights and key points Main scenario: consider short positions from corrections below the level of 1.3950 with a bearish target of 1.3414 – 1.3192. A sell signal: after the price returns below 1.3950. Stop Loss: above 1.3980, Take Profit:…
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not invest money that you…
GBP/USD hits multi-year high post Powell dovish pivot, rose above 1.3200 The GBP/USD climbed sharply during the North American session after Federal Reserve Chair Jerome Powell gave the green light to cutting interest rates, as he’s confident that inflation is edging towards the central bank’s 2% goal. The pair traded above 1.3200, at around new two-year highs, gaining over 1%. Read…
2024.08.23 2024.08.23 USDCHF: Elliott wave analysis and for 23.08.24 – 30.08.24 Alex Geutahttps://www.litefinance.org/blog/authors/alex-geuta/ The article covers the following subjects: Highlights and key points Main scenario: once a correction forms, consider short positions below the level of 0.8750 with a bearish target of 0.8200 – 0.8000. A sell signal: after the price returns below 0.8750. Stop Loss: above 0.8780, Take…
Walmart CEO Doug McMillon The great stock market turnaround in August was impressive in many ways but when I take a step back, there was one big question being asked and answered: Is the Fed behind the curve? Within that question is a set of assumptions about the US economy and if you look at the economic data, there…
Through most of this year, EUR/USD has been contained by a 1.10 to 1.06 range, Rabobank’s Senior FX Strategist Jane Foley notes. EUR/USD set to trade at 1.12 on a 3-month scale “This month’s break higher and the advent of a new policy cycle for the Fed suggests that a new range is in the process of being drawn…
