Image Source: Pixabay EUR/JPY holds positive ground around 162.77 after the BoJ rate decision. BoJ decided to end a negative interest rate era that began in 2016, in line with market expectations. ECB’s de Cos said the central bank may start cutting rates in June if inflation in the eurozone continues to ease. Investors will focus on the German and Eurozone ZEW Survey on Tuesday. The EUR/JPY cross gains traction above the mid-162.00s during the Asian trading hours on Tuesday. The cross drifts higher after the Bank of Japan (BoJ) decided to end a negative interest rate era that began in 2016, in line with market expectations. At press tim...
Image Source: PexelsAs has been thoroughly warned, straw-manned, leaked, and hinted at over the past few weeks (here, here, and here for example), The Bank of Japan hiked interest rates tonight for the first time since 2007. This move ends the world’s last negative interest rate policy.The vote, at 7-2 to scrap the negative interest rate (setting the policy rate in range between 0% to 0.1%), was closer than many expected with policy board members Nakamura and Noguchi dissented.Source: BloombergAdditionally, the bank has abandoned its yield curve control policy.The BOJ will continue to purchase JGBs with “broadly the same amount a...
Image Source: PixabayIn this video, Ira Epstein reviews the day’s trading in the gold and other relevant metal markets.Video Length: 00:08:27More By This Author:Financial Markets Report For Monday, March 18Metals Report For Thursday, March 14Financial Markets Report For Thursday, March 14...
Image Source: UnsplashShort Term Elliott Wave view in Amazon (AMZN) suggests that wave 4 is in progress as double three Elliott Wave structure. Rally to 180.14. Down from there, wave A ended at 176 and the rally in Wave B ended at 177.08. The stock then resumed lower in wave c towards 173.3 which completed wave (w) in a higher degree. Up from there, wave (x) unfolded as a flat structure. Up from wave (w), wave a ended at 176.46, and wave b ended at 172.06. Wave c higher ended at 178.79 which completed wave (x). The stock then turned lower in wave (y) with internal subdivision as a zigzag structure.Down from wave (x), wave A ended at 174.3...
Image source: PixabayThe FT-Booth Macroeconomist Survey was released today. GDP is slated to grow 2.1% in 2024, q4/q4.Figure 1: GDP (bold black), CBO projection (blue), Survey of Professional Forecasters (red), FT-Booth median forecast (brown inverted triangle), GDPNow of 3/14 (light blue square), all in bn.Ch.2017$. Source: BEA 2024Q4 2nd release, CBO Budget and Economic Outlook (February), Philadelphia Fed SPF, Booth School, Atlanta Fed (3/14), and author’s calculations.The median growth rate is 2.1%, with 10% lower/upper bounds at 1.6% and 2.5%. This growth rate is faster than the 1.7% median rate in the February SPF. (I’m appar...
Image Source: UnsplashGlobal Macro and Markets Global Markets: Considering all the hype today’s BoJ meeting has received, the JGB market is remarkably calm. 2Y JGB yields have drifted lower since the weekend, despite a Nikkei article that seems to be taking a rate hike and end to YCC at today’s meeting as a done deal. The yield on the 10Y JGB is 0.756%, close to its recent highs, but lower than Friday’s close. US Treasury yields aren’t doing too much. The 2Y UST is up 0.4 basis points and the 10Y yield is up just 1.8bp, at 4.324%. USDJPY is also very stable, trading sideways yesterday at about 149.15. In contrast, the EURUSD dropped...
Image Source: UnsplashTM Editors’ note: This article discusses a penny stock and/or microcap. Such stocks are easily manipulated; do your own careful due diligence.Decisive Dividend Corp (DE.V) is an acquisition-oriented company, focused on opportunities in manufacturing.The corporation’s purpose is to be the sought-out choice for exiting legacy-minded business owners while supporting the long-term success of the businesses acquired, and through that, creating sustainable and growing shareholder returns.It uses a disciplined acquisition strategy to identify already profitable, well-established, high-quality manufacturing companie...
Image Source: PexelsOff session highs which came in the earlier morning trading hours, market indices closed mostly in the green today: the Dow finished +75 points, +0.20%, while the Nasdaq grew +130 points, +0.82%, and the S&P 500 splitting the difference, +0.63%. Only the small-cap Russell 2000 was down today, -0.60% — it’s fifth down-day in the past seven trading sessions. The Russell is now less than 1% positive year to date; compare that with the Nasdaq, which is up +9%.NVIDIA (NVDA – Free Report) CEO and co-founder Jensen Huang has just now take the stage at this year’s GTC conference, delivering the keynote address ...
Image Source: PixabayIn this video, Ira Epstein reviews the activity in the Financial Markets after the day that just ended, Monday, March 18.Video Length: 00:13:24More By This Author:Metals Report For Thursday, March 14Financial Markets Report For Thursday, March 14Metals Report For Wednesday, March 13...
Image Source: PixabayEURUSD has experienced a technical setback, breaching the lower boundary of a key indicator on its 4-hour chart. This analysis dives into the technical situation and explores potential scenarios for the currency pair.Uptrend Faces a Hurdle: Channel Support Breached: EURUSD has broken below the bottom of the rising price channel on the 4-hour chart. This technical pattern had been guiding the uptrend since 1.0694. 1.0865 Support in Focus: The currency pair is now facing the next critical support level at 1.0865. Potential Direction Shifts: Downside Confirmation: A breakdown below 1.0865 support would signal a weake...