Powell says the Fed is still a ways off from altering policy, expects inflation to moderate
Federal Reserve Chairman Jerome Powell said Wednesday that the economy needs to improve more before the central bank will change its ultra-easy monetary policy. In remarks prepared for the House Financial Services Committee, the central bank chief noted improvements but...
Covid scams cost Americans nearly $500 million — and criminals are now eyeing the child tax credit
Visoot Uthairam | Moment | Getty Images Americans have lost nearly $500 million to Covid-related scams since the start of the pandemic, according to Federal Trade Commission data. And the agency is warning that con artists will likely try to...
Wholesale prices rose 7.3% in June from a year ago for a record surge
Wholesale prices for June rose more than expected in another sign that inflation is moving at a faster pace than markets had anticipated. The producer price index, which measures what companies get for the goods they produce, increased 1% from...
Gold advances under strain as 200-MA applies the brakes
Gold’s recent surge in positive impetus has been capped by the 200-period simple moving average (SMA) at 1,829. Sellers seem to have gained the upper hand, steering the price back underneath the 1,825 level (previous resistance-now-support). In spite of the...
Bank of Canada Reduces Bond Purchases, Expects Economic Slack to be Absorbed in Second Half of 2022
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Gold Upside Breakout, Dollar Back Under Pressure
Dollar is back under pressure again as risk-on sentiments seem to be back as indicated by US futures. Swiss Franc and Euro are not too far away, as both turn softer, while Yen is following. On the other hand, New...
AUD/USD Has Strong Support at 0.7360
AUDUSD is not really clear at the moment; bulls are still struggling after reaching a low last week at 0.7400. We see slow price action now so I am considering another wave count; an ending diagonal where the final leg...
Dollar Index Has Hit A Three-Month High. Fed May Tighten The Monetary Policy
The consumer price index data slightly shocked financial markets. Annual consumer inflation accelerated to 5.4% from 5% (the forecast was 4.9%), and the core CPI increased to 4.5% from 3.8% (with the forecast of 4.0%), it’s a record for the...
Kiwi Surges on RBNZ, Focus on BoC Next
New Zealand Dollar rises broadly after RBNZ halts its asset purchase program. The movement also takes Aussie slightly higher. On the other hand, Dollar is not quite able to extend the post-CPI rally, and softens slightly. European majors are currently...
Elliott Wave View: DAX Pullback Should Be Well Supported
Rally in DAX from November 2, 2020 low is unfolding as a 5 waves impulse Elliott Wave structure. In the 60 minutes chart below, wave (3) of this rally can be seen to have ended at 15802.67 and pullback in...
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