Looking at the Short Term Elliott Wave View in E-Mini Dow Jones Futures (YM), the analysis suggests that the trend is set to continue higher within the sequence initiated from the April 2024 low as part of the daily sequence. This viewpoint favors the upside potential in wave 5 of (5) since the 18th of
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Oil prices are facing significant pressure due to a softening demand outlook, according to recent reports. The worries over Chinese demand have overtaken concerns about tensions in the Middle East or Venezuela, causing traders to turn into sellers. Brent crude futures hit a low of $79.36, signaling a bearish sentiment in the oil market despite
The Australian Dollar (AUD) has been experiencing a downward trend against the USD, with key economic concerns impacting its value. Despite expectations of a rate hike by the Reserve Bank of Australia (RBA), issues with the local economy and Chinese economic woes have hindered any significant upward movement. The persistent high inflation in Australia has
The newly appointed finance minister, Rachel Reeves, wasted no time in highlighting the dire state of Britain’s public finances. She revealed that her Conservative predecessor had left public spending on track to exceed budgets by a staggering 21.9 billion pounds for the current year. To address this, Reeves announced immediate 5.5 billion pounds of cuts
The Bank of Japan (BoJ) is on the brink of announcing a significant decision regarding interest rates. With the global economy already grappling with inflation and other economic challenges, the BoJ’s move could have a profound impact on financial markets worldwide. Along with a potential rate hike, the BoJ is also set to unveil a
The USDJPY has kicked off the week with a hint of positivity, but the bulls are facing a challenging battle to gain control. The 20-period simple moving average (SMA) in the 4-hour chart is proving to be a tough barrier for the bulls to overcome. While both the stochastics and RSI have turned upwards, the
The stock market saw a slight rebound on Friday, with the S&P 500 index closing 1.11% higher, although it closed well below the daily high. This could indicate consolidation rather than a definitive change in the short-term trend. The market may see another attempt at reversing the downtrend this morning, with the S&P 500 likely
As the Federal Reserve officials prepare for their upcoming meeting, the market anticipates that they will keep rates unchanged. However, there is a strong belief that a 25 basis point rate cut could be on the horizon for the September meeting. Evercore ISI strategists suggest that while the Fed is laying the groundwork for a
The stock futures showed a modest rise on Monday, signaling a potential shift in the market following a week of volatility. Last week, the S&P 500 and Nasdaq saw declines, while the Dow and Russell 2000 experienced gains. Despite these fluctuations, market strategists are optimistic about the increased participation across sectors, viewing it as a
As the week kicks off, U.S. stock futures are on the rise, setting the stage for a week filled with central bank meetings and major tech company earnings. The focus will primarily be on central banks, with scheduled policy meetings from the Federal Reserve, the Bank of England, and the Bank of Japan. The Federal
The New Zealand Dollar (NZD) has shown signs of weakness, with analysts predicting a range of 0.5875 to 0.5920. The current market conditions indicate that the NZD may be oversold, suggesting limited downside potential. Analysts at UOB Group FX are closely monitoring the key level of 0.5850 for any significant movements. Following a recent dip