On Friday evening, the Federal Circuit court struck down the vast majority of US President Donald Trump’s tariffs, ruling them illegal under laws that give Congress control of tariffs and tax policy. The 7-4 decision rules that the International Emergency Economic Powers Act was used improperly in the case of fentanyl tariffs against Mexico/Canada/China and for the broader reciprocal…
There is a chance for Pound Sterling (GBP) to test 1.3545; the major resistance at 1.3575 is unlikely to come into view. In the longer run, GBP is likely to trade in a range between 1.3395 and 1.3575, UOB Group’s FX analysts Quek Ser Leang and Peter Chia note. GBP is likely to trade in a range between 1.3395…
2025.08.29 2025.08.29 GBP/USD: Elliott Wave Analysis and Forecast for 29.08.25 – 05.09.25 Alex Geutahttps://www.litefinance.org/blog/authors/alex-geuta/ The article covers the following subjects: Major Takeaways Main scenario: Consider long positions from corrections above the level of 1.3380 with a target of 1.3850 – 1.4000. A buy signal: the price holds above 1.3380. Stop Loss: below 1.3300, Take Profit: 1.3850 – 1.4000. Alternative…
This week in forex, AUD dominated, CAD & NZD also shined brightly, & EUR sunk hard due to trade woes & disappointing Euro area data.
It’s been a pretty quiet session on the data and news side, but a lively one on the markets front. The US PCE was of course the main highlight of the day and the data came in line with expectations across the board. We had also the Canadian GDP which showed a bigger contraction than expected in Q2, but…
The Indian Rupee declines to near 88.45 against the US Dollar due to multiple headwinds. US tariffs and FIIs’ outflow continue to weigh on the Indian Rupee. Investors await the release of India’s Q2 GDP and the US PCE inflation data for July. The Indian Rupee (INR) posts a fresh all-time low against the US Dollar (USD) on Friday….
2025.08.29 2025.08.29 USD/JPY: Elliott Wave Analysis and Forecast for 29.08.25 – 05.09.25 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 148.74 with a target of 142.50 – 139.83. A sell signal: the price holds below 148.74. Stop Loss: above 150.50, Take Profit: 142.50 – 139.83. Alternative…
Prior 411 Total rig count 536 vs 538 prior Gas rigs 119 vs 122 prior This is not a market moving indicator as it’s very lagging. Oil rigs count is of course correlated to oil prices. When oil prices trend upwards, oil rigs count increases, and when oil prices trend downwards, oil rigs count decreases. In the picture below,…
Bloomberg data showed that Russian Oil exports to India fell by almost 40% compared to the previous week to just over 800,000 barrels per day, the lowest level since October 2022, unless there will be an upward revision, Commerzbank’s commodity analyst Carsten Fritsch notes. Russia may still be able to export more crude Oil “However, traders expect Russian Oil…
2025.08.29 2025.08.29 WTI Crude Oil: Elliott Wave Analysis and Forecast for 29.08.25 – 05.09.25 Alex Geutahttps://www.litefinance.org/blog/authors/alex-geuta/ The article covers the following subjects: Major Takeaways Main scenario: Consider long positions from corrections above the level of 61.10 with a target of 70.00 – 77.65. A buy signal: the price holds above 61.10. Stop Loss: below 58.50, Take Profit: 70.00 –…
