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FTSE Prints Two Week Highs Ahead Of Central Bank Bonazza
Image Source: Pexels On Tuesday, the FTSE 100 reached a two-week high due to the increase in bets on a more substantial U.S. interest rate reduction and the strength of domestic retail shares following an improved forecast from Kingfisher. The FTSE 100, a blue-chip index, reached its best level since September 3 by increasing by 0.7%. The pound experienced a minor decrease in value, alleviating some of the stress on the export-oriented companies in the index. Automobile and retail rose 1.7% and 1.6%, respectively, while all main sectoral indexes were in the green. The mid-cap index experienced a 0.2% increase. According to the CME’s F... -
Finance 0
The String Of Negative YoY Real Retail Sales Continues, Confirming Yellow Flag
One of my favorite bits of economic data, retail sales, did no better than treading water in August.On a nominal basis, retail sales in August rose 0.1%, but after an upwardly revised blowout 1.3% in July. Which means, after adjusting for inflation, they declined -0.1%. The below graph norms both real retail sales (dark blue) and the similar measure of real personal consumption of goods (light blue) to 100 as of just before the pandemic: Since the end of the pandemic stimulus in spring 2022, real retail sales have been trending generally flat to slightly declining, while real personal consumption expenditures on goods have continued to increa... -
Finance 0
What Will Crypto Do With A Fed Interest Rate Cut?
The next Federal Reserve interest rate decision meetings this year are September 17 – 18, November 6 – 7, and December 17 – 18. Will the Fed decrease, increase or hold on its current rate of 5.50%?How might bitcoin respond to Federal Reserve rate cuts? Since bitcoin can be seen as a proxy for monetary policy and the stability of the dollar, understanding its behavior during rate-cutting cycles is crucial. Keep in mind however that with only a decade of bitcoin data, this analysis should be approached with caution.The graph shows Fed Funds and the Bitcoin price relationship since 2020. The chart shows Bitcoin in 2020 to 2021 skyrocketed ... -
Finance 0
Yo-Yo Market Provides A Unique Experience
Last week was an absolute first …Not in a bad way per se, but I cannot recall anything quite like it before …The previous week there were bullish setups a-plenty, and virtually none of them broke out. And then last week everything flipped and there were bearish setups a-plenty … and virtually none of them broke out either.Now, of course rounded tops and bottoms are commonplace – that’s why our EDGE Trade Plan is so valuable. No breakout, no losses.But this was different because it was almost like the market was producing clusters of these decent-looking setups, one week bullish and the following week bearish.Two weeks ago my headlin... -
Finance 0
NIKKEI 225 Index Elliott Wave Technical Analysis – Tuesday, September 17
NIKKEI 225 (N225) Elliott Wave Analysis Day ChartNIKKEI 225 (N225) Elliott Wave Technical AnalysisFUNCTION: Counter Trend MODE: Corrective STRUCTURE: Navy blue wave 2 POSITION: Gray wave 3 DIRECTION NEXT HIGHER DEGREES: Navy blue wave 3DETAILS: Navy blue wave 1 appears completed, and currently, navy blue wave 2 is unfolding.Wave Cancel Invalid Level: 30,380The Nikkei 225 Elliott Wave analysis on the day chart points to a corrective counter-trend movement. The analysis shows that the market is now in navy blue wave 2, which is part of a broader corrective pattern. Navy blue wave 1 has been completed, signaling that the initial phase of... -
Finance 0
EUR/USD Forecast: Rallies Ahead Of FOMC
It was a very strong day for the euro against the US dollar on Monday as we broke back above the 1.11 level. This is an area that has caused a little bit of noise as of late but quite frankly that being said, this is a market that I think has to be thought of through the prism of what happens on Wednesday with the press conference after the FOMC interest rate decision. We already know that the Federal Reserve is likely to cut by 25 basis points, but the question then will become how does Jerome Powell sound afterwards? If he is, in fact, extraordinarily dovish, then I think you will see the Euro really take off. If we can break above the 1.12... -
Finance 0
GBP/USD Analysis: Nears 2024 High On Fed Cut
Overall, this is an important week for global financial markets as the Federal Reserve will finally begin the US interest rate cut cycle, which is expected to boost global economic growth momentum and weigh on the US dollar more broadly. According to Forex trading, the pound received a boost against the US dollar GBP/USD last week on the back of clear leaks from the Federal Reserve that gave a strong hint that it would start with a decisive 50 basis point rate cut instead of the usual 25 basis point move. The leaks came via a number of financial news outlets, most notably from a Wall Street Journal journalist known for his close connections t... -
Finance 0
Analytical Overview Of The Main Currency Pairs – Tuesday, September 17
The EUR/USD currency pair Technical indicators of the currency pair: Prev. Open: 1.1075 Prev. Close: 1.1132 % chg. over the last day: +0.51 % The EUR/USD pair reached a 1-week high. The weakening of the dollar on Monday contributed to the euro’s growth. In addition, hawkish comments from ECB Governing Council representative Kazacs on Monday supported the euro when he said, “There’s still more risk inflation will be higher over the medium term than we expect,” and the ECB “will almost surely need to wait until December for a clearer picture before making its next move” on interest rates. Swaps discount the odds of a 25bp ECB rate ... -
Finance 0
Ethereum-Bitcoin Ratio Breaks 0.04 Barrier: Could Altcoins Be At Risk?
Today’s Ethereum-Bitcoin (ETH/BTC) trading pair slid below 0.04, a level last seen in April 2021. The declining ETH/BTC ratio could have multiple implications for the wider altcoin market. Altcoins Might Suffer Due To Weak EthereumOne of the key indicators to gauge the resiliency of the altcoin market is the ETH/BTC ratio. The ratio essentially tracks the relative price strength of Ethereum against Bitcoin and is widely considered a metric that could indicate the future potential price action of altcoins.As of September 16, 2024, the ETH/BTC ratio sits at 0.039, a level it last touched 3 years ago in April 2021. In fact, after hitting a hi... -
Finance 0
GBPAUD Forex Elliott Wave Technical Analysis – Tuesday, September 17
British Pound/Australian Dollar (GBPAUD) Day Chart AnalysisElliott Wave Technical Analysis for GBPAUD: Trend: Bearish Mode: Impulsive Structure: Navy blue wave 3 Next Lower Degree: Navy blue wave 3 (in progress) Analysis Summary:The GBPAUD Elliott Wave analysis for the day chart reveals a bearish trend, indicating that the market is currently in an impulsive phase. This suggests a continuation of the downward price movement in line with the prevailing trend. The current structure being analyzed is navy blue wave 3, which follows the completion of navy blue wave 2. Completion of Navy Blue Wave 2: The corrective phase of navy blue wave 2 h...
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