Japanese Yen Gains Ground as Japanese Retail Sales Jump
The Japanese yen has posted gains in the Thursday session. In North American trade, USD/JPY is trading at 113.30, down 0.34% on the day. On the release front, Japanese retail sales jumped 3.5%, its highest level since December 2017. Later...
Elliott Wave Analysis: S&P500 and 10 Year US Notes
S&P500 made an impulsive rally yesterday due to a Powell’s speech, so seems like it’s heading higher within wave C/3, which should be made by five sub-waves, where we see room towards 2750-2770. But, we should be careful at this...
AUDCAD Hits 4-month High; Medium-Term Structure Tilts Bullish
AUDCAD staged a strong rebound after falling to 0.9104 in early October, this being its lowest since July 2010. Earlier on Thursday, it touched a four-month high of 0.9748. The positively aligned Tenkan and Kijun-sen lines, as well as the...
Whither Bitcoin? A Review of Past Cycles for the World’s Oldest Cryptocurrency
“I think it’s essential to remember that just about everything is cyclical. There’s little I’m certain of, but these things are true: Cycles always prevail eventually. Nothing goes in one direction forever. Trees don’t grow to the sky. Few things...
Dollar Rebound Attempt Capped by Weaker Core Inflation, Yen Gains ahead of G20
After yesterday selloff triggered by Fed Chair Jerome Powell, Dollar turns mixed today. It did try to regain some grounds in early European session. But the attempt falters after weaker than expected inflation reading from the US. Focus will now...
Wall Street economists think the stock market misinterpreted Powell and big rally was overreaction
Economists are taking a second look at Federal Reserve Chairman Jerome Powell’s speech Wednesday and wondering if the sharply dovish reaction wasn’t a bit overdone. The central bank chief’s proclamation that interest rates are “just below” what would be considered...
Wall Street economists think the stock market misinterpreted Powell and big rally was overeaction
Economists are taking a second look at Federal Reserve Chairman Jerome Powell’s speech Wednesday and wondering if the sharply dovish reaction wasn’t a bit overdone. The central bank chief’s proclamation that interest rates are “just below” what would be considered...
Trader Jon Najarian: Powell didn’t bow to Trump, Fed chief is reacting to slowing economic data
Back in early October, news-reading algorithms, followed by traders and investors, reacted to Federal Reserve Chairman Jerome Powell’s statement that our central bank was “a long way” from getting rates to a neutral zone, which is the area in which...
US weekly jobless claims rise to 6-month high
The number of Americans filing applications for jobless benefits increased to a six-month high last week, which could raise concerns that the labor market could be slowing. Initial claims for state unemployment benefits rose 10,000 to a seasonally adjusted 234,000...
US consumer spending surges, while underlying inflation slows
U.S. consumer spending increased by the most in seven months in October, but underlying price pressures slowed, with an inflation measure tracked by the Federal Reserve recording its smallest annual increase since February. The Commerce Department said on Thursday consumer...
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