Author Archive: Jeremy Parkinson
USD/CAD Outlook: Posts 3-Month Top Following 2nd BoC Rate Cut
The USD/CAD outlook shows strong bullish sentiment as the Canadian dollar wallows near a 3-month low after a second Bank of Canada rate cut. Moreover, the central bank signaled further easing if inflation continues cooling.On Wednesday, the Bank of Canada lowered borrowing costs by 25 basis points to 4.5%. This was the second rate cut […]
EUR/JPY Price Analysis: Risk Of Recovery After Deep Sell-Off
EUR/JPY is at risk of recovering after the steep sell-off of the last two weeks has stalled. The EUR/JPY pair reached a low of 164.83 on Thursday – well below its July 11 peak of 175.43. Since then it has been edging higher as the pair recovers from oversold extremes. EUR/JPY Daily Chart The pair formed […]
AUD/USD Remains Steady Near 0.6550 After Mix US PCE Inflation Report
The AUD/USD pair remains steady above the immediate support of 0.6520 in Friday’s New York session after the release of the mixed United States (US) Personal Consumption Expenditure Inflation (PCE) report for June.The Bureau of Economic Analysis (BEA) reported that annual headline PCE inflation decelerated expectedly to 2.5% from May’s reading of 2.6%. In the same period, the core […]
Asia Week Ahead: Central Bank Meetings And Critical Inflation Data
Image Source: Unsplash It’s set to be a big week ahead for the Asia Pacific region. The Bank of Japan gets ready to normalize policy further against the backdrop of a stronger JPY, and it’s make or break time for the Reserve Bank of Australia as June inflation data determines what its 6 August meeting brings. Japan: Labor report and […]
Crypto participants expect Bitcoin to exceed $100,000 this cycle
Key Takeaways 43.7% of crypto participants expect Bitcoin to exceed $100,000 this cycle. Expectations for Ethereum and Solana prices are more varied among survey respondents. A recent survey from data aggregator CoinGecko revealed that 43.7% of the respondents expect Bitcoin to exceed $100,000 this cycle. The next most popular prediction was the $91,000 to $100,000 […]
USD/CAD Price Analysis: Reaches Critical Point At Ceiling Of Three-Month Range
USD/CAD has risen to the top of the range it has been trading in since the middle of April. It is at a critical point – a decisive breakout higher would signal a new uptrend; a reversal, however, might signal the continuation of the sideways trend it has been in for the last over three months. […]
Bear Of The Day: Kohls
Kohl’s (KSS), a specialty department store chain with 1,100 locations across the United States, has struggled significantly in recent years due to deteriorating business fundamentals.The company’s lackluster performance is underscored by a Zacks Rank #5 (Strong Sell) rating, falling sales growth, and a relatively high valuation despite its challenges. Given this setup, investors should approach Kohl’s stock with […]
Italian Confidence Data Confirms Divergence Between Consumers And Businesses
Image Source: Pexels As has often been the case recently, Italy’s data is proving something of a mixed bag. Consumers’ high spirits and deteriorating tourism confidence are the main highlights to note – and it looks as though the second half of the year might be off to a soft start. Consumer confidence improves further in July, likely helped by wage growth […]
Unlocking ASX Trading Success: CSL Limited – Friday, July 26
ASX: CSL LIMITED – CSL Elliott Wave Technical Analysis TradingLounge (1D Chart)Greetings, our Elliott Wave analysis today provides an update on the Australian Stock Exchange (ASX) featuring CSL LIMITED – CSL. According to our analysis, CSL may be advancing with wave ((iii)) – navy.ASX: CSL LIMITED – CSL Elliott Wave Technical Analysis ASX: CSL LIMITED – CSL 1D […]
NZD/USD Price Analysis: Strives To Come Out Of Woods
NZD/USD finds a cushion near 0.5880, while the overall outlook remains bearish. Investors await the US core PCE inflation for June for fresh guidance on Fed interest rates. The New Zealand Dollar weakens due to multiple headwinds. The NZD/USD pair finds temporary support near an almost three-month low of 0.5880 in Friday’s European session after […]
