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US Market Commentary - Thursday, May 16
Article By:
James Harte
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Thursday, May 16, 2024 6:12 AM EDT
The US Dollar plunged lower yesterday on the back of the April CPI and retail sales readings. On the inflation front, annualised CPI was seen declining for the first time in six months, dipping to 3.4% from 3.5% prior.
In this article: UUP
USD/CAD Rebounds Above 1.3600, Focus On US Data
Article By:
Lallalit Srijandorn
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Thursday, May 16, 2024 5:57 AM EDT
USD/CAD finds support at the 1.3600 psychological level and rebounds to 1.3615 in Thursday’s early European session. The recent softer US inflation and weaker Retail Sales have triggered speculation that Fed may cut rates this year.
Elliott Wave Technical Analysis: CAC 40
Article By:
Peter Mathers
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Thursday, May 16, 2024 5:45 AM EDT
The index is currently experiencing an impulsive trend, specifically within red wave 1.
USD/CHF Drops To Near 0.9000 Due To Dovish Sentiment Surrounding The Fed
Article By:
Akhtar Faruqui
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Thursday, May 16, 2024 5:32 AM EDT
USD/CHF extends losses due to growing expectations of multiple rate cuts by the Fed in 2024. Fed’s Neel Kashkari said that the US Fed should maintain policy rates at their current level for longer.
Two Trades To Watch: USD/JPY, DAX Forecast
Article By:
Fiona Cincotta
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Thursday, May 16, 2024 5:15 AM EDT
USD/JPY falls post-CPI & with jobless claims up next. DAX reaches record high as US CPI euphoria spreads.
US Dollar Breaks Key Support Against Swiss Franc
Article By:
ForexCycle
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Thursday, May 16, 2024 3:55 AM EDT
The USDCHF currency pair has broken below the rising trendline, followed by a breakdown below the key 0.8997 support level.
Elliott Wave Technical Analysis: U.S. Dollar/Canadian Dollar - Thursday, May 16
Article By:
Peter Mathers
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Thursday, May 16, 2024 3:42 AM EDT
The analysis suggests the pair is in a counter-trend corrective phase, specifically within a triangle pattern.
Gold Price Drifts Higher As US CPI Inflation Fuels Fed Rate Cuts
Article By:
Lallalit Srijandorn
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Thursday, May 16, 2024 3:05 AM EDT
The gold price (XAU/USD) gains traction amid the weaker US Dollar (USD) on Thursday.
AUD/JPY Drops To Near 103.00 After The Mixed Aussie Employment Data
Article By:
Akhtar Faruqui
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Thursday, May 16, 2024 2:45 AM EDT
AUD/JPY snaps its three-day winning streak, trading around 103.00 during the Asian hours on Thursday. The AUD/JPY cross decline is attributed to the mixed employment data from Australia released on Thursday.
Elliott Wave Analysis On SPX Looking To Extend Higher In Impulsive Structure
Video By:
Elliottwave Forecast
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Thursday, May 16, 2024 2:25 AM EDT
The short-term Elliott Wave in SPX suggests that the Index ended wave (4) pullback at 4953.98. From there, it rallies higher in wave (5) as a nesting impulse Elliott Wave structure.
In this video: SPX
Elliott Wave Technical Analysis: VeChain Crypto Price News
Article By:
Peter Mathers
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Thursday, May 16, 2024 12:45 AM EDT
The correction in Wave II appears to be complete at the 0.032 level, and the price is resuming the upward trend. Therefore, to look for an opportunity to join the uptrend, you may need to wait for confirmation after the price rises above 0.0386.
Record Closing Highs Amid Interest Rate Catch-22
Article By:
Mark Vickery
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Wednesday, May 15, 2024 11:45 PM EDT
Most major stock market indices are at all-time highs as of Wednesday’s close. Today’s CPI report for April set the stock market alight from the moment of its release prior to the opening bell.
America Needs To Go Cold Turkey On Debt
Video By:
Peter Schiff
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Wednesday, May 15, 2024 11:25 PM EDT
The only way to restore the economy to good health is to go cold turkey on debt, deficit spending, and money printing.
In this video: GLD
This Perfect Pullback Could Be Our Biggest Win Of All Week
Video By:
Joseph James
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Wednesday, May 15, 2024 11:05 PM EDT
We had a big move higher today and a retest of all-time highs…Put those 2 clues together and this PERFECT PULLBACK could be our easiest money all week!