UPCOMING EVENTS: Monday: US/Canada Holiday, China Caixin Manufacturing PMI, Swiss Manufacturing PMI. Tuesday: Swiss CPI, Swiss Q2 GDP, Canada Manufacturing PMI, US ISM Manufacturing PMI. Wednesday: Australia Q2 GDP, China Caixin Services PMI, Eurozone PPI, BoC Policy Decision, US Job Openings, Fed Beige Book. Thursday: Japan Average Cash Earnings, Swiss Unemployment Rate, Eurozone Retail Sales, US ADP, US Jobless…
US inflation, as measured by the PCE Price Index, remained unchanged at 2.5% YoY in July. The USD is gaining due to the strength of its economy while inflation is coming down. The labor market is still the focus for September’s decision. On Friday, the US Dollar, measured by the US Dollar Index (DXY), extended gains after the release…
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not invest money that you…
USD recovered after signs of sticky inflation on July’s PCE. Recovery momentum in AUD throughout August has been supported mainly by the weak USD and improved conditions of risk-related assets. RBA’s hawkish stance continues to benefit the Aussie. The AUD/USD declined by 0.70% to 0.6750 in Friday’s session as the USD strengthened in response to July’s Personal Consumption Expenditures…
On the face of it, the Q2 Canadian GDP report looked good today at 2.1% annualized compared to 1.6% expected. It also handily beat the Bank of Canada’s forecast of 1.5%. The problem is that the composition of growth was in all the wrong places. Consumer spending rose at just a 0.6% annualized rate while government consumption rose at…
EUR/USD trimmed to the downside on Friday, extending into a three day down streak. EU inflation brought no surprises, US PCE inflation kept rate bets on balance. Coming up next week: Last US NFP jobs data print before next Fed rate call. EUR/USD tilted further into the red on Friday, extending a downside move into a third straight day…
2024.08.30 2024.08.30 US Dollar Returns Its Crown. Forecast as of 30.08.2024 Dmitri Demidenkohttps://www.litefinance.org/blog/authors/dmitri-demidenko/ The retreat of the Trump trade was a contributing factor to the EURUSD rally in August. However, it was employed prematurely. The optimal time to make trading decisions amid the upcoming US presidential election will be in September. Let’s discuss this topic and make a trading…
12 month trimmed mean 2.7% vs 2.8% prior Looking through the data here are some notable changes: Eggs: Massive increase of 90.9% (annualized 1-month change) Window coverings: Large decrease of -27.3% Used autos: Significant decrease of -25.2% Jewelry: Notable decrease of -20.4% Natural gas: Decrease of -7.7% Physician services: Slight decrease of -2.2% Electricity: Slight increase of 1.3% Fresh…
Gold falls below $2,500 following US PCE report, boosting likelihood of September Fed rate cut. Fed’s cautious policy easing strategy stirs uncertainty; markets favor a 25 bps cut. Traders’ bets on a 25 bps rate cut rise to 69%; odds for a 50 bps reduction fall to 31%, per CME FedWatch Tool. Gold prices tumbled over 0.90% on Friday,…
2024.08.30 2024.08.30 Short-term Analysis for BTCUSD, XRPUSD, and ETHUSD for 30.08.2024 Roman Oneginhttps://www.litefinance.org/blog/authors/roman-onegin/ Dear readers, I’ve prepared a short-term forecast for Bitcoin, Ripple, and Ethereum based on the Elliott wave analysis. The article covers the following subjects: Highlights and key points BTCUSD: expect growth in correction to 61,406.67 and consider a long position. XRPUSD: a descending impulse is developing…
