EUR/USD tipped into 1.1300 for the first time in over a year on Friday. Fed policymakers open the door to rate cuts during Jackson Hole. Coming up next week: key EU and US inflation prints. EUR/USD rallied into its second-best day of August, climbing seven-tenths of one percent as the US Dollar tumbles across the board. Market risk appetite…
I don’t like tying our hands for any meeting but Fed funds minus inflation is as high as it’s been in decades Inflation is on a path to 2% We’re the tightest we’ve been in this cycle, even though we stopped hiking last July Fed forecasts show widespread support for rate cuts It’s hard to put a specific number…
NZD/JPY gained ground on Friday’s session, mildly to 89.95. The RSI holds near neutral territory, indicating a balance between buying and selling forces. The MACD shows flat green bars, suggesting that momentum is stabilizing. The NZD/JPY currency pair is consolidating sideways within a familiar range below 90.00. Technical indicators display mixed signals, with the Relative Strength Index (RSI) hinting…
Bank of America highlights that historically, the US Dollar Index (DXY) tends to rise from August through US election day in November, suggesting potential USD strength leading into the upcoming election. Key Points: Seasonal Trends: Since 1970, the DXY typically shows strength in August, weakness from September to mid-October, and then regains strength into late November before declining towards…
Mexican Peso rallies sharply with USD/MXN falling over 2%. Mexico’s economy shows mixed signals, with Q2 GDP growth at 2.1% YoY but a contraction in economic activity, as Banxico debates the appropriateness of recent rate cuts. Powell’s speech at Jackson Hole hints at upcoming rate cuts. The Mexican Peso rallied sharply against the Greenback on Friday after Federal Reserve…
2024.08.23 2024.08.23 US Dollar to Regain Ground Against Euro. Forecast as of 23.08.2024 Dmitri Demidenkohttps://www.litefinance.org/blog/authors/dmitri-demidenko/ The EURUSD pair has reached multi-year highs due to economic factors, monetary policy, and risk appetite. However, the euro is facing challenges. Will the US dollar capitalize on these weaknesses? Let’s discuss this topic and make a trading plan. The article covers the following…
The US dollar has fallen to new lows on the day pretty much across the board (not yet against GBP). The market is continuing to digest the Powell comments and it’s the front end of the yield curve where the strongest buying remains. US 2s are down 9 bps to 3.92% and near the lows of the day as…
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…
