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Daily Broad Market Recap – October 31, 2024
Profit taking was the name of the game on Thursday, as traders prepared for high-level US data releases, the US elections, and the end of the trading month.
What are the major headlines that dominated the price movement in recent trading…
Fed’s Target in Sight as Inflation Cools, Spending Holds Strong
The latest Bureau of Economic Analysis (BEA) data gave us a mixed reading on consumer prices for September.
Energy, food and commodity prices fell, pushing headline inflation closer to the Fed's 2% target. but Services inflation remains…
Bank of Japan Holds Rates, Hints at Potential December Move
The Bank of Japan (BOJ) maintained its short-term interest rate target at 0.25% at its policy meeting today, while signaling increased confidence in the economic outlook that could pave the way for further monetary tightening as early as…
Chart Art: Is The U.S. Dollar Index Ready To Bounce Higher?
The US dollar retreated from some of its weekly gains after an advanced GDP reading disappointed market expectations.
Are we looking at an opportunity to buy the dollar at lower levels?
We zoom in on the 4-hour chart to check the range…
Daily Broad Market Recap – October 30, 2024
It was another volatile day in the financial markets, with currencies and asset classes dealing with a few top-tier catalysts.
Not only did Uncle Sam print advanced Q3 GDP, but Australia also released its quarterly inflation report while…
Gold Prices Surge to Record High Amid U.S. Election Uncertainty and Interest Rate Speculation
Rising gold prices reflect growing investor demand for safe-haven assets due to U.S. election jitters, political uncertainty in Japan, and pending Fed rate announcements.
Australia’s Q3 CPI Cools, but Sticky High Components May Keep RBA Hawkish
Data from the Australian Bureau of Statistics (ABS) showed consumer price increases slowing from 1.0% to 0.2% in the third quarter of 2024 versus market expectations for a reading of 0.3%.On an annual basis, The CPI for the third…
Daily Broad Market Recap – October 29, 2024
Market correlations appear to be out of sync in recent trading sessions, as crude oil had its own path while US stocks reacted to earnings data.
Gold advanced more than 1% on the day while BTC/USD rose to all-time highs at the $73,000…
FX Watch: AUD/USD And AUD/CAD To Make New Weekly Lows On Cooler AU CPI?
Australia is about to print inflation data for the third quarter! Australian CPI Event Guide for Q3 2024 suggests we may see cooler price pressures compared to the previous quarter as commodity prices (but mostly oil) and average input…
Chart Art: USD/CHF Is Facing A Major Resistance At .8700!
USD/CHF does not appear to be breaking through the major technical resistance area!
Is it time to short the dollar against its safe-haven counterpart?We take a closer look at the daily chart!
USD/CHF 1 Hour Forex Chart by TradingView…
