FOMC Cut Rates by 0.25% As Expected in November Decision

The Federal Reserve lowered its benchmark interest rate by 25 basis points to a target range of 4.50-4.75% in their November meeting, citing that inflation has “made progress” towards their objectives. FOMC policy details: Target federal funds rate lowered by 0.25% to 4.50-4.75% range Interest rate on reserve balances adjusted to 4.65% Overnight reverse repo rate set at 4.55%…

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Pair gets rejected again by the 20-day SMA, more downside on the horizon

The NZD/USD got rejected by the 20-day SMA by the fourth time this week. Technical indicators point to increasing selling pressure and decreasing buying pressure. A breakout from the 0.5940-0.6030 range will confirm a bearish outlook. In Friday’s session, the NZD/USD declined by 1.05% to 0.5960, continuing its downward trend as the pair got rejected by a third time this…

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WTI Crude Oil: Elliott wave analysis and forecast for 08.11.24 – 15.11.24

2024.11.08 2024.11.08 WTI Crude Oil: Elliott Wave Analysis and Forecast for 08.11.24 – 15.11.24 Alex Geutahttps://www.litefinance.org/blog/authors/alex-geuta/ The article covers the following subjects: Major Takeaways Main scenario: Consider short positions from corrections below the level of 77.75 with a target of 61.50 – 53.60. A sell signal: the price holds below 77.75. Stop Loss: above 78.20, Take Profit: 61.50 –…

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Premium Watchlist Recap: Nov. 4 – 5, 2024

This week our currency strategists focused on the RBA Monetary Policy Statement and New Zealand Employment Report for potential high-quality setups. Out of the eight scenario/price outlook discussions this week, two discussions arguably saw both fundie & technical arguments triggered to become potential candidates for a trade & risk management overlay.  Check out our review on those discussions to…

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XAUUSD: Elliott wave analysis and forecast for 08.11.24 – 15.11.24

2024.11.08 2024.11.08 XAUUSD: Elliott Wave Analysis and Forecast for 08.11.24 – 15.11.24 Alex Geutahttps://www.litefinance.org/blog/authors/alex-geuta/ The article covers the following subjects: Major Takeaways Main scenario: Consider short positions from corrections below the level of 2792.90 with a target of 2560.52 – 2418.82. A sell signal: the price holds below 2792.90. Stop Loss: above 2800.00, Take Profit: 2560.52 – 2418.82. Alternative…

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Daily Broad Market Recap – November 7, 2024

The dust seems to have settled after the U.S. election results were confirmed, as the U.S. dollar pared some gains while Treasury yields retreated. Risk assets like U.S. equities and bitcoin, on the other hand, carried on with their rallies as the FOMC maintained its dovish bias. Which headlines and economic updates drove price action in the past sessions?…

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Weekly Market Outlook (11-15 November)

UPCOMING EVENTS: Monday: BoJ Summary of Opinions. (US Holiday) Tuesday: UK Labour Market report, Eurozone ZEW, US NFIB Small Business Optimism Index, Fed’s SLOOS. Wednesday: Japan PPI, Australia Wage Price Index, US CPI. Thursday: Australia Labour Market report, UK GDP, Eurozone Employment Change and Industrial Production, US PPI, US Jobless Claims, Fed Chair Powell. Friday: Japan GDP, China Industrial…

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