Elliott Wave View: Oil (CL) Short Term May See More Downside

Gold price rose further in early Tuesday following more dovish tones from Fed Powell in his speech on Monday, which contributes to growing expectations that the Fed may soon decide to start cutting interest rates. Powell pointed to the recent inflation data which boost optimism that inflation remains on track towards 2% target, fueling hopes […]

The Japanese yen is drifting on Tuesday. In the European session, USD/JPY is trading at 151.88, up 0.02%. It’s as light data calendar today. Japan’s average cash earnings rose 1.8% y/y in February after a 2% gain in January. This beat the market estimate of 1.4%. Still, the better-than-expected wage growth release didn’t provide a […]

Gold (XAU/USD) prices have rebounded to 2394 USD per troy ounce, paring previous losses as the likelihood of a US Federal Reserve rate cut increases. Market sentiment is increasingly cautious amid recession fears, influencing stock market dynamics and bolstering the appeal of non-yielding assets like gold. Current market indicators, notably the CME FedWatch tool, suggest […]