Author: FX

Bitcoin’s price failed to hold above 60,000 on Wednesday.😔 The decline followed a brief surge after Federal Reserve Chair Jerome Powell’s recent speech at Jackson Hodl err Hole. The past three months have been tough for orange pill poppers around the world, with bitcoin declining over 12% and its continued failure so far to retest its recent all-time high of nearly 74,000 reached earlier this year. Analysts suggest that profit-taking by crypto traders and low trading volume during this time of year may be contributing to the drop. Despite this, bitcoin continues to see inflows into U.S. spot bitcoin ETFs,…

The economic calendar in the Asian Pacific session is light once again.Fedspeak will have Fed’s Bostic speaking at 6 PM. On Friday, in interviews with Bloomberg TV and CNBC, Bostic stated that he estimates the long-run Federal Reserve rate at 3%. He emphasized that the Fed’s next steps will be data-dependent, noting that inflation has decreased faster than expected, though underlying inflation remains concerning. Bostic highlighted solid business conditions, allowing the Fed to be patient as it seeks a calm and orderly return to a normalized policy stance. He mentioned that while the economy is in a relatively good position,…

Robinhood Markets Inc. (HOOD : NASDAQ) is a California-based financial technology (fintech) company that operates an online discount brokerage with commission-free trading. In this article, we will analyze the technical structure based on the Elliott Wave Theory and highlight its potential growth. HOOD main cycle started in June 2022 establishing an impulsive structure to the upside. Wave I ended in November 2022 then the stock corrected lower in wave II until November 2023. Up from there, It rallied into 5 waves structure within wave III with a 200% increase in price. The stock peaked on July 2024 at $24.88 and then it dropped…

By Mahmoud Issa GAZA (Reuters) – Most Palestinians shopping for hungry families can only stare at the meagre offerings in Gaza City’s street markets, frustrated that soaring prices and shortages of food are pushing essential supplies beyond their reach. Prices of basic commodities have more than quadrupled since the conflict began, piling pressure on families already traumatised by Israel’s military campaign and a humanitarian crisis, with no ceasefire in sight, Gaza residents say. “We do not have vegetables, meat products, eggs or anything,” said Abu Issam, a Palestinian from northern Gaza. “Where are the governments? Where are the people? They…

Prior was -4649KDetails:Gasoline -2203K vs -2265K expectedDistillates +275K vs -1083K expectedRefinery utilization +1.0% vs +0.2% expectedProduction mbpd 13.3mbpd vs 13.4mbpd priorAPI data released late yesterday:Crude -3400KGasoline -1860KDistillates -1400KAhead of the release, WTI crude oil was trading lower by 77-cents to $74.78. This article was written by Adam Button at www.forexlive.com. Source link

AUD/USD continues rising in line with the dominant uptrend.  The RSI is showing bearish divergence with price, however, warning of a possible pull back.  AUD/USD extends its rally and makes higher highs as it continues the uptrend it began at the start of August.  The pair reached a new monthly high of 0.6813 on Wednesday. Although it has pulled back since, it remains in an established uptrend which, given “the trend is your friend” is expected to extend. AUD/USD 4-hour Chart AUD/USD has broken above the key 0.6799 July 11 high, and now sets its sights on the next target…

Foot Locker (NYSE:FL) swung to a loss in the second quarter and said it was closing stores in Asia and Europe, overshadowing better-than-expected sales and driving shares more than 8% lower in premarket trading. The company also issued lackluster sales guidance for FY24. In the second quarter, the sportswear retailer reported an adjusted loss of $4M, or $(0.05) per share, beating expectations by 2 cents. This compares to a profit of $4M, or $0.04 per share in the same quarter last year. Total sales improved by 1.9% year-over-year to $1.9B, $10M above expectations. Led by strong comparable store sales in…

Israeli, US, Egyptian, and Qatari negotiators were meeting in Doha on Wednesday for “technical/working level” Gaza ceasefire talks – source with knowledge of the meeting to Reuters. This article was written by Arno V Venter at www.forexlive.com. Source link

FX option expiries for Aug 28 NY cut at 10:00 Eastern Time, via DTCC, can be found below. EUR/USD: EUR amounts 1.1100 836m 1.1120 602m 1.1140 415m 1.1150 2.1b 1.1170 828m 1.1175 1b 1.1200 1.5b                 GBP/USD: GBP amounts      USD/JPY: USD amounts                      143.75 500m 145.25 1.6b 145.50 2.2b USD/CHF: USD amounts      AUD/USD: AUD amounts USD/CAD: USD amounts        EUR/GBP: EUR amounts         Source link

USD/JPY has been trading lower since mid-August when the pair turned lower from the 149.50 levels. Is the pair ready to reverse its downtrend? We’re looking at a potential reversal ahead of the release of Uncle Sam’s second GDP reading! This Article Is For Premium Members Only Become a Premium member for full website access, plus get: Ad-free experience Daily actionable short-term strategies High-impact economic event trading guides Access to exclusive MarketMilk™ sections Plus More! Source link