Author: FX
Gold briefly hits unprecedented high at $3,004 per ounce before settling lower at $2,982 amid US Dollar volatility. Geopolitical tensions rise as Russia-Ukraine ceasefire falters; China’s central bank extends bullion buying streak, boosts Gold. US recession fears escalate following dismal consumer sentiment report, raising bets the Fed could ease policy further in 2025. Gold prices retreat after hitting a record high, surpassing $3,000, as traders remain uncertain about US President Donald Trump’s trade policies. This and the weakness of the US Dollar drove the precious metal to reach an all-time high of $3,004 a troy ounce before retreating to $2,982,…
The Dow Jones recovered around 520 points on Friday. Despite the last-minute pullback, the Dow remains down 1,400 points for the week. Equities shrugged off one of the worst consumer sentiment prints in years. The Dow Jones Industrial Average (DJIA) fought back at the brink on Friday, clawing back roughly 520 points following a string of bad losses that saw the Dow Jones crumble 3,373 points, or -7.66% peak-to-trough, over a two-week period. Friday’s broad recovery in equities may be poorly timed, however: University of Michigan (UoM) consumer outlook indicators saw their deepest plunge in years on Friday, and the pain…
The broader US stock indices closed sharply higher on the day, but were still down for the fourth consecutive week. S&P index rose 117.42 points or 2.13% at 5638.94NASDAQ index rose 451.07 points or 2.61% at 17754.09Each of those indices have closed lower for 4-consecutive weeksThe S&P index fell by -2.27% this week. The prior three weeks have seen declines of -1.66%, -0.90% and -3.10%.The NASDAQ index fell by -2.43% this week. The prior three weeks of seen declines of -2.1% -3.47%, and -2.43%.For the Dow industrial average, it rose 634.62 points or 1.65% at 41488.79. For the trading week,…
Newly-minted Canadian Prime Minister Mark Carney took over the reigns of Canada from now-former Prime Minister Justin Trudeau on Friday morning. The fresh Canadian leader wasted no time in declaring his intent to meet United States (US) President Donald Trump head-on as the Trump administration spools up a messy, global trade war with nearly all of the US’s closest trading partners simultaneously. Key highlights Mark Carney sworn in as Canada’s prime minister, now faces Trump tariffs. Carney plans visit to France and the UK next week. Carney: We will create new trade corridors with reliable partners. I plan to go…
Pres. Trump in an interview to be aired on Sunday says:They will know more about Russia’s readiness to agree to the proposal for a 30 day cease-fire with Ukraine on Monday. This article was written by Greg Michalowski at www.forexlive.com. Source link
Using the Elliott Wave (EW), we have successfully tracked the most likely path forward for the SP500 (SPX) over several months. Already in November last year, we found “Ending Diagonals (EDs) are tricky because all their waves comprise three waves: 3-3-3-3-3. Besides, W-iii typically targets the 123.60% extension of W-i, measured from W-ii. The W-iv then tends to correct back to the 61.80% extension, after which the last W-v targets the 161.80% extension. In this case, we are looking at W-iii to reach at least SPX6060, W-iv should bottom around SPX5725, and W-v can reach at least SPX6260.” (Grey) W-iii…
The price action in both the AUDUSD and the NZDUSD was up and down indicative of a market that is trying to figure out which way to go. The AUDUSD has been fluctuating around the 100-bar and 200-bar moving averages on the 4-hour chart this week, but is currently trading above both as it moves toward the weekly highs and the end of the week. The pair is now testing a swing area between 0.6326 and 0.6336, a key resistance zone. A confirmed break above this level next week would open the door for a move toward the 100-day moving…
Public safety and the policies implemented by the United States are a source of concern for businesses. Central bank warns slowdown could deepen; urges investment boost amid weakening demand and trade tensions Banco de Mexico (Banxico) Director of Economic Research Alejandrina Salcedo Cisneros said that uncertainty is having a widespread impact on the country’s businesses, so the outlook points to a moderate expansion of regional economies. Banxico’s economist added, “We had a slowdown that we had been observing for several quarters, to which this environment of uncertainty is now compounded.” She said this could be due to lower internal and…
Mexican Peso advances as USD/MXN plunges below 19.90, down over 1%. The Peso shrugs off Mexico’s weak industrial output and declining consumer confidence fueling recession concerns. US consumer sentiment plunges amid rising inflation expectations, driven by upcoming Trump administration tariffs. The Mexican Peso (MXN) rallied against the US Dollar (USD) on Friday, ignoring softer-than-expected economic data revealed during the week that suggests the economy might slow down. A deterioration of consumer sentiment in the United States (US) exerted pressure on the Greenback, which is poised to finish the week with losses. The USD/MXN trades at 19.86, down more than 1%.…
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