The Dollar Index Hit A Year High, The Focus Today Is On Inflation Data And The Publication Of FOMC Minutes
The US stock market declined on Tuesday. At the close of the stock market, the Dow Jones index decreased by 0.34%, the S&P 500 index decreased by 0.24%, and the NASDAQ Composite lost 0.14%. US Fed officials Bullard, Bostick, and...
Markets in Consolidation as US CPI and FOMC Minutes Awaited
The markets are trading in consolidative mode in Asia today. Dollar attempted to resume near term rally against Euro overnight, but quickly lost momentum. While Yen remains generally weak, selloff slowed, along with slight retreat in US 10-year yield, and...
Elliott Wave View: S&P 500 Should Extend Lower
Short Term view in S&P 500 (SPX) suggests the decline from Sept 23, 2021 peak is unfolding as a double three Elliott Wave structure. Down from Sept 23 peak, wave W ended at 4278.94 as a zigzag structure. Wave ((a))...
Fed’s Bullard says bond purchases should be tapered quickly in case rate hikes are needed
St. Louis Federal Reserve President James Bullard advocated Tuesday for the central bank to be aggressive as it starts winding down its monthly bond-buying program in case inflation becomes a larger problem. In a CNBC interview, the Fed official said...
A record 4.3 million workers quit their jobs in August, led by food and retail industries
Workers left their jobs at a record pace in August, with bar and restaurant employees as well as retail staff quitting in droves, the Labor Department reported Tuesday. Quits hit a new series high going back to December 2000, as...
Sentiment Hushed as Durable Dollar Climbs with Yields
Markets look for clues in JOLTS data and FOMC speeches The current market picture is one of stubborn inflation, rising yields, and expectations of a nearing Fed announcement of the taper timeline, specifically in the November FOMC meeting. Global...
Down, Down and Away for the Yen?
The Japanese yen has taken a pause from Monday’s slide. Currently, USD/JPY is trading at 113.44, up 0.10% on the day. Yield differentials send yen tumbling The Japanese yen had an awful start to the week. USD/JPY climbed 0.98% on...
Euro Softens on Weak Economic Sentiment, Yen Selloff Remains the Main Theme
There is basically no change in the Yen selloff theme in the markets. But buying focus has shifted to commodity currencies, as led by Aussie and Kiwi, as well as Sterling. Euro is turning a touch weaker after poor German...
GBP/USD Technical Bearish Trend Continuation
GBP/USD is in downtrend. The pattern is a bearish continuation sign. Q L3 should be the target. Bearish Zig-zag. D1 chart GBP/USD 1. Descending Trendline. 2. Bearish Order block. 3. Pinbar Bearish. 4. Q L3 and M L3 Pivot targets....
Market is about to see the strongest earnings season of year, history shows
Earnings may give stocks a major boost starting this week. Ally Invest’s Lindsey Bell finds the third quarter is undeniably the most powerful earnings season for Wall Street. “We’re starting to think about the end of the year into next...
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