Elliott Wave Analysis: Crude Oil Can Find a Support Near $6
Crude oil is turning down despite after OPEC+ countries agreed to extend the majority of production cuts through April. We saw price spiked highe after that news and it is coming down now. However, we think this can be only...
Canadian Dollar Strong in Subdued Markets, Yen Weak
Trading is generally subdued in the markets today. European indices are stuck in very tight range while US futures point to slightly higher open. Both gold and oil are bounded in consolidative trading. Bitcoin was short to new record high...
Shift in U.S. spending emphasis ‘almost the end of Reaganomics,’ strategist says
U.S. President Joe Biden attends an event where he announced administration plans to double its order of the single-shot Johnson & Johnson coronavirus vaccine, procuring an additional 100 million doses, in the South Court Auditorium at the White House in...
GOLD Recovers From 1,700.00
Gold found support in the 1,700.00 price level. It resulted in a surge, which by the middle of Monday’s European trading hours had reached above the 1,730.00 level. In the case of the surge continuing, the price could test the...
The Dollar And The Stock Market Continue To Show A Tendency Towards Growth
On Friday, the dollar index resumed its growth on the back of positive macroeconomic data and rising Treasury yields. The latter consolidated above 1.60% after the publication of PPI data. US producer prices rose the most in February since October...
NZD/USD Two Scenarios Likely
The New Zealand Dollar declined by 66 pips or 0.92% against the US Dollar on Friday. The decline was stopped by the lower line of an ascending channel pattern during Friday’s trading session. Currently, the exchange rate is trading near...
Dow futures inch higher ahead of Monday’s market open
Traders on the floor of the New York Stock Exchange. Source: NYSE U.S. stock futures were mixed early Monday morning and pointed to a cautious open later in the day. That followed last week’s rally that led the Dow and...
FOMC Preview – Expect to See Upgrade in GDP Growth Projections
The focus of this week’s FOMC meeting is how the Fed would respond to the rising Treasury yields and the rapid improvement in the economic conditions. We expect policymakers to upgrade the GDP growth forecasts and attribute rising yields to...
Yen Soft in Mixed Markets, Strong China Data Shrugged
The markets are generally mixed in Asian session today. Strong data from China were shrugged by investors in general. Instead, sentiment is a bit cautious ahead of the highly anticipated FOMC meeting in the middle of the week. Yen is...
Forex and Cryptocurrencies Forecast
First, a review of last week’s events: EUR/USD. Recall that the head of the Fed Jerome Powell literally brought down the American stock markets with his speech on February 4. Powell stayed indifferent to the surge in US Treasury yields,...
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