Author: FX

TradeCompass for Ethereum Futures Analysis (January 2025 Contract) – January 16, 2025Current Context:Current Price: $3,376.5Bullish Threshold: $3,395Aligned with today’s developing VWAP; price above this level signals bullish momentum.Bearish Threshold: $3,363.5Aligned with yesterday’s VWAP; price below this level indicates bearish sentiment.Trade Scenarios for Ethereum Futures:Bearish Setup:Stop-Loss: Place stops above $3,395 to limit risk.Profit Targets for Shorts:$3,350.2 – Close to today’s value area low for quick risk mitigation.$3,323 – Just above the value area low from January 15th.$3,283 – A deeper bearish target for continued price weakness.$3,250 – A significant level for extended bearish moves.Bullish Setup:If the price rises above $3,395, consider…

Gold price extends recovery and rises above $2,700, looking for more upside. The mixed US CPI release on Wednesday fueled hopes for a Fed rate cut before the summer.  Gold sprints higher and sets sail for the first important pivotal level at $2,708. Gold’s price (XAU/USD) edges higher for the third day in a row and recovers initial weekly losses, rising above the $2,700 level at the time of writing on Thursday. The recovery comes in the run-up and release of the December US Consumer Price Index (CPI) data on Wednesday.  While headline CPI accelerated compared to the previous month,…

UnitedHealth Non-GAAP EPS of $6.81 beats by $0.07, revenue of $100.8B misses by $930M Source link

By William Schomberg, Suban Abdulla LONDON (Reuters) -Britain’s economic output returned to growth in November, the first month after finance minister Rachel Reeves announced big tax increases for businesses, but the expansion was smaller than expected. Gross domestic product rose by 0.1% from October, according to official data, after falls in September and October. However, economists polled by Reuters had mostly forecast a 0.2% rise. Reeves, whose Oct. 30 budget included big increases in social security contributions paid by employers, said she was “determined to go further and faster to kick-start economic growth.”  She will meet regulators on Thursday to…

Prior +2.2%HICP +2.8% vs +2.8% y/y prelimPrior +2.4% This article was written by Justin Low at www.forexlive.com. Source link

Greetings, Our Elliott Wave analysis today updates the Australian Stock Exchange (ASX) with COLES GROUP LIMITED. – COL. We see ASX:COL as possibly moving higher in the (5)-orange wave. And this deeper analysis will provide key Key Point levels to help readers identify important turning points, such as when this uptrend will expire. COL (one-day chart) Elliott Wave technical analysis Function: Major trend (Minor degree, grey). Mode: Motive. Structure: Impulse. Position: Wave (5)-orange. Details: Wave (4)-orange may have ended at the low of 17.29 and wave (5)-orange is starting to move higher, specifically it is probably an Extension, and it is subdividing into wave 1,2-grey,…

The Australian dollar broadly declined early Thursday, despite December’s employment report coming in stronger than expected. Data from the Australian Bureau of Statistics showed Australia’s labor market adding 56,300 jobs in December, significantly outpacing forecasts of a 15,000 increase. At the same time, the unemployment rate inched up from 3.9% to 4.0% as more people entered the workforce. Link to ABS December 2024 Employment Report Here are key points from December’s employment report: Total employment increased by 56.3K, far above the 15K forecast The unemployment rate rose to 4.0% from 3.9% in November Full-time employment decreased by 23,700 to 10,037,600…

USD/JPY has snapped a days-long uptrend and is rapidly approaching a key support zone. Will there be enough buyers at the level to maintain the pair’s even longer-term uptrend? The daily chart might give us clues: USD/JPY Daily Forex Chart by TradingView The U.S. dollar has been taking hits against its counterparts after this week’s U.S. CPI and PPI reports stoked expectations for multiple rate cuts from the Fed. Meanwhile, over in Japan, officials have been dropping hints about a potential rate hike as soon as next week. USD/JPY, which had been climbing steadily since December, not only tumbled from…

By David Lawder and Lawrence Delevingne WASHINGTON (Reuters) -Scott Bessent, U.S. President-elect Donald Trump’s choice to head the Treasury Department, on Wednesday vowed to ensure that the dollar remains the world’s reserve currency as he laid out a vision for a “new economic golden age”. Bessent, who faces questioning before the U.S. Senate Finance Committee on Thursday, said in prepared testimony that the new Trump administration must prioritize productive investment that grows the economy over “wasteful spending that drives inflation.” “We must secure supply chains that are vulnerable to strategic competitors, and we must carefully deploy sanctions as part of…

Investors were biting their nails ahead of the highly-anticipated U.S. CPI release, leading to plenty of market consolidation before big breakouts were seen. Headline inflation came in line with consensus, but the core CPI showed moderating price pressures enough to keep most market players hopeful for more Fed rate cuts. Take a look at the latest economic updates! Headlines: BOJ Governor Kazuo Ueda signaled a potential rate hike next week in remarks during the Regional Banks Association of Japan event BOJ Deputy Governor Ryozo Himino shared that a rate hike is on the table in next week’s meeting Japan Reuters…