Fed’s Mester says inflation hasn’t peaked and multiple half-point rate hikes are needed
Cleveland Federal Reserve President Loretta Mester said Friday that she doesn’t see ample evidence that inflation has peaked and thus is on board with a series of aggressive interest rate increases ahead. “I think the Fed has shown that we’re...
Payrolls rose 390,000 in May, better than expected as companies keep hiring
The U.S. economy added 390,000 jobs in May, better than expected despite fears of an economic slowdown and with a roaring pace of inflation, the Bureau of Labor Statistics reported Friday. At the same time, the unemployment rate held at...
Dollar Rises on Strong NFP, Yen Selling Persists
Dollar jumps broadly in early US session after stronger than expected headline non-farm payroll numbers. For now, the greenback is still behind Canadian and Australian Dollar in the weekly race, however. On the other hand, Yen’s selloff is extending again,...
AUDUSD Completes ‘Death Cross’ But Bullish Structure Intact
AUDUSD has been marching higher after finding its feet at the 22-month low of 0.6828 in early May. However, the pair’s advance is currently on pause as the 200-day simple moving average appears to be acting as a strong resistance...
GOLD ( $XAUUSD) Forecasting The Rally After Elliott Wave Zig Zag Pattern
Hello fellow traders. In this technical blog we’re going to take a quick look at the Elliott Wave charts of GOLD, published in members area of the website. As our members know, GOLD is giving us correction of the cycle...
GBPJPY Bullish Impetus Tackles Upper Bollinger Band
GBPJPY is attempting to push north of the high of 163.57 from the 5 May, coincidently where the upper Bollinger band is currently located. The pair is maintaining its bullish demeanour, forming its eighth daily consecutive green candle, after the...
EURAUD Penetrates the Uptrend Line But Finds Support at 23.6% Fibo
EURAUD is currently rebounding off the 23.6% Fibonacci retracement level of the down leg from 1.6220 to 1.4320 at 1.4767. The pair broke the uptrend line to the downside in the previous sessions, suggesting a bearish movement. The MACD is...
A Bounce, But Hardly the Start of a Rise in the Crypto Market
Bitcoin rose 2.4% to $30.5K in the past 24 hours. Ethereum added 0.2% to $1820. Ether was unexpectedly among the laggards. Altcoins from the top 10 rose from 1.5% (BNB) to 4.1% (Solana). Total crypto market capitalisation, according to CoinMarketCap,...
GBP/USD: Cable Remains Constructive But Downside Still Vulnerable; US Jobs Data in Focus
Cable is moving within a narrow range in early Friday and remains constructive after Thursday’s 0.75% advance. Technical picture is mixed, as moving averages of 10/20/30 days are conflicting, bullish momentum is weaker and RSI neutral. Falling daily Ichimoku clouds...
Fed Vice Chair Lael Brainard says it’s ‘very hard to see the case’ for the Fed pausing rate hikes
Federal Reserve Vice Chair Lael Brainard said Thursday that it’s unlikely the central bank will be taking a break from its current rate-hiking cycle anytime soon. Though she stressed that Fed policymakers will remain data-dependent, Brainard said the most likely...