Fed’s Goolsbee says this is a ‘strange and unprecedented moment’ for U.S. economy
The U.S. economy is in a strange and unprecedented moment, according to Austan Goolsbee, the new president of the Chicago Federal Reserve Bank. In his first speech since taking office last month, Goolsbee said he had no doubt that the economy will face “bumps in the road.” He gave the speech at an event hosted […]
XAUUSD Incomplete Triple Zigzag Hints at Further Growth
It is assumed that a triple zigzag pattern is formed for gold in the long term. This consists of sub-waves Ⓦ-Ⓧ-Ⓨ-Ⓧ-Ⓩ. Perhaps the first two sub-waves Ⓦ-Ⓧ have ended, and the third sub-wave Ⓨ is under development. The internal structure suggests that the wave Ⓨ forms an intermediate triple zigzag. We can see that sub-waves […]
Aussie can benefit from the most resilient real growth in G10 – SocGen
Since its low in October, AUD/USD has been recovering strongly. Economists at Société Générale expect the pair to enjoy further gains. China’s growth spark is benefiting Australia “The Chinese reopening remains the dominant macro theme in FX, while AUD/USD performance is strongly linked to Chinese equities.” “China’s growth spark is also benefiting Australia. Both China […]
Market Spotlight: US Wage Growth in Focus
US Jobs Up NextOn the back of the FOMC meeting this week, today’s US jobs report will draw plenty of attention. However, instead of the headline NFP results, the bigger focus will likely be on wage growth data. With the Fed having pivoted to a smaller .25% hike this time around, and sounding more constructive […]
EURUSD Gains As Eurozone Data Show Modest Return To Growth
EUR/USD Price and Analysis EUR/USD ticks up on better growth data The European Central Bank’s Thursday rate rise was as expected and didn’t offer much support US Data will be in focus as the session goes on Recommended by David Cottle How to Trade EUR/USD The Euro managed modest gains against the US Dollar on […]
Despite the rebound, the breadth of services expansion has still slowed – Wells Fargo
The ISM Service PMI released on Friday showed the index rose back above 50, into expansion territory. Analysts at Wells Fargo, point out that after just a single month under 50, the services ISM shot back up into expansion. However, they warn the breadth of services expansion has still slowed. Key quotes: “The slowdown in […]
US NFP expected to show slowing growth
Net job creation in the US has been coming down since the middle of last year. Through that time, analysts have consistently underestimated the number of people getting hired each month. Now, the consensus for January is for 185K, lower than the 223K reported in December. Typically, January has weaker jobs performance due to the […]
Upbeat China PMI, IMF growth forecasts probe bears around mid-0.7000s
AUD/USD picks up bids to challenge two-day downtrend. China official PMIs came in firmer for January, IMF revised up growth forecasts. Aussie Retail Sales, cautious mood ahead of the key data/events previously weighed on prices. US data eyed ahead of Fed meeting, risk catalysts are important too. AUD/USD probes the two-day downtrend while picking up […]
EUR/USD Tests 1.0900 – ECB Rate Decision, Inflation and Growth Data Ahead
EUR/USD Price, Chart, and Analysis German Q4 GDP misses expectations and turns negative. EUR/USD is back above 1.0900 ahead of major data and events. Recommended by Nick Cawley Get Your Free EUR Forecast Most Read: EUR/USD Technical Outlook: Minor Setback on the Cards? German gross domestic product (GDP) turned negative in the fourth quarter of […]
Bitcoin feels the need for correction before further growth
Market picture Bitcoin rose 5.3% last week to close at $23.8K. On Sunday, the first cryptocurrency was one step away from $24K, updating its high since August. Ethereum gained 0.9% to $1640. Top-10 leading altcoins have gained between 2.7% (Dogecoin) and 18.8% (Polygon). Total cryptocurrency market capitalisation rose 4.4% to $1.08 trillion over the week, […]