Russia’s Putin says crypto has ‘value’ — but maybe not for trading oil
Russian President Vladimir Putin delivers a speech during the Russian Energy Week event on October 13, 2021 in Moscow, Russia. Mikhail Svetlov | Getty Images Russian President Vladimir Putin thinks cryptocurrencies have value — but he’s not convinced they can...
AUDUSD Paves Way For Further Progress, Bullish Bias Fragile
AUDUSD is targeting the 0.7400 level again after successfully piercing the descending trendline drawn from May’s peak of 0.7890 on Wednesday. The bullish bias is still in place according to the momentum indicators as the MACD continues to grow within...
The Setback In Yields To Be Corrective/Temporary In Nature
Markets Moves on the interest rate markets yesterday suggested that investors still have to navigate a complex of unsure, potentially conflicting, factors. The US curve continued Tuesday’s flattening trend. The US inflation data supported the move, but were not the...
Yen Selloff Resumes, Aussie Shrugs Weak Job Data
Yen’s decline resumes in Asian session today, with selling focusing against commodity currencies. Aussie shrugs off slightly weaker than expected job data, and strengthen together with Kiwi and Loonie. On the other hand, Dollar turns slightly softer even though FOMC...
FOMC Minutes: QE Tapering can Come in As Soon As Mid-November
At the FOMC minutes for the September meeting, the members sent more hints about QE tapering. It is highly likely a formal announcement will be made in November, barring abrupt deterioration of pandemic condition and power shortage problems. On economic...
Fed says it could begin ‘gradual tapering process’ by mid-November
Federal Reserve officials could begin reducing the extraordinary help they’ve been providing to the economy by as soon as mid-November, according to minutes from the central bank’s September meeting released Wednesday. The meeting summary indicated that members feel the Fed...
Gold Surges, Oil Stays Resilient, Stocks Choppy as US Data Shows No Signs of Transitory Inflation
Just like William Shatner, US stocks went on a wild this morning. Wall Street took a brief break to watch Star Trek’s William Shatner, a 90-year old legend set a record in space with a Blue Origin spaceflight. The S&P...
Consumer prices rise more than expected as energy costs surge
Consumer prices increased slightly more than expected in September as food and energy price rises offset declines in used cars, the Labor Department reported Wednesday. The consumer price index for all items rose 0.4% for the month, compared with the...
EUR/CAD: Lopsided Short Positioning May Hint at a Bullish Reversal
As my colleague Joe Perry noted in his Currency Pair of the Week article, the loonie has been on absolute tear of late, with the ongoing rally in the price of oil, Canada’s most important export, and more recently, Friday’s...
Elliott Wave Analysis: Oil May Slow Down at 80-82 Area
After yesterday’s intraday shake out, Crude oil looks corrective on the intraday basis, which means that it can retest the highs and 82-83 area, ideally as part of final leg of an ending diagonal pattern before it finds the resistance....
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