Bearish Elliott Wave Sequence in Dollar Index (DXY) Favors Downside

The Japanese yen is almost unchanged on Thursday. In the North American session, USD/JPY is trading at 154.44, up 0.03%. It’s a light data calendar today. US unemployment claims were unchanged at 212,000 and the Philly Fed Manufacturing index surged to 15.5 in April, up from 3.5 in March and crushing the market estimate of […]

Gold regained traction and bounced on Friday, reversing so far around a half on Thursday’s 1.1% drop, which broke and closed below psychological $2500 level. Top of the former range at $2480 zone performed as solid support and contained dip, which also closed above rising 10DMA, adding to idea that deeper pullback was just positioning […]

Influential financial media are promoting the need for a 50-basis point rate cut. The Fed’s blackout period starts 10 days before the rate decision is released, so the main influence on the markets during this time comes from traders’ interpretation of data and commentary from influential speakers in major financial media. Employment and inflation figures […]