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...
‘Summer of indigestion’ will produce big buying opportunities, long-term market bull Tony Dwyer predicts
Investors may want to keep the antacid nearby. Long-term market bull Tony Dwyer sees near-term turbulence in connection with his “summer of indigestion” call. So, he’s encouraging investors to resist making any big moves right now. “We’ve had one heck...
Inflation just jumped the most in years, yet markets are largely ignoring it. Here’s why
Consumer prices just posted their largest one-month jump in nearly 13 years, a fact that might tempt some to conclude that a white-hot U.S. economy is on the brink of runaway inflation. But a spike in the June 2021 consumer...
Inflation climbs higher than expected in June as price index rises 5.4%
Inflation surged in June at its fastest pace in nearly 13 years amid a burst in used vehicle costs and price increases in food and energy, the Labor Department reported Tuesday. The consumer price index increased 5.4% from a year...
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