Gold May Slowdown for a Correction: Elliott Wave Analysis
Gold is coming sharply to the upside as a “safe haven” asset based on the latest US-Russia tensions. Higher inflation is also one of the reasons for higher metals. Technically we see prices are coming up from 1780 in an...
Elliott Wave View: CADJPY Looking for Further Downside
Short Term Elliott Wave View on CADJPY suggests that the rally to 91.7 ended wave (2). Pair has turned lower in wave (3) with internal subdivision as a 5 waves impulse Elliott Wave structure. Down from wave (2), wave (i)...
Stock futures are flat after Dow suffers its worst day of the year
Wall Street suffered a steep sell-off on Wednesday with the Dow falling more than 600 points for its biggest daily drop since the end of November.
Fed’s Bullard says inflation ‘could get out of control,’ so action is needed now
James Bullard Olivia Michael | CNBC NEW YORK — St. Louis Federal Reserve President James Bullard cautioned Thursday that without central bank action on interest rates, inflation could become an even more serious problem. “We’re at more risk now than...
Yen and Gold Rise as Investors Stay Nervous on Russia-Ukraine
The markets are overall mixed today, as investors are holding their breath, awaiting confirmation on whether Russia is going to invade Ukraine, or not. Gold jumps notably and is now eyeing 1900 handle on nervous sentiment. In the currency markets,...
Market Sentiment Remains Fragile as Investors eye Ukraine Escalation
Dollar stuck between opposing directional forces The ongoing tensions between Ukraine and Russia continue to be the main driving force behind market moves today as yesterday’s signs of de-escalation have completely evaporated. Specifically, the two sides are exchanging accusations over violations of ceasefire near the Eastern-Ukrainian borders,...
Sentiment Remains Fragile and Sensitive to Ukraine Situation, Aussie Shrugs Mixed Job Data
Australian Dollar rises mildly in Asian session, together with New Zealand Dollar. But both were hammed down after a Russian media reported that Ukraine forces opened fire on four settlements of the LPR. Overall market sentiment remains rather fragile and...
AUD/USD Faces Uphill Task Near 0.7280
Key Highlights AUD/USD is facing a strong resistance near 0.7250 and 0.7280. A key bullish trend line is forming with support near 0.7140 on the 4-hours chart. EUR/USD might gain momentum if it settles above 1.1400. Crude oil price is...
US Retail Sales Solid for January
There is an adage on Wall Street: “Never underestimate the American consumer”., which appears appropriate for January’s retail sales data Headline US Retail Sales for January were up 3.8% MoM vs an estimate of only 2% MoM. This was the...
Canadian Dollar Popped Up by CPI, Sentiment Turns Cautious Again
Overall market sentiment is slightly weaker entering into US session. While Russia showed videos of tanks leaving Crimea, NATO questioned de-escalation and said troop buildup was still going on. There is little reaction to much stronger than expected US retail...