Global stocks and the euro surged ahead of the European Central Bank (ECB) interest rate cuts on Thursday 6 June 2024. The ECB decreased borrowing costs from 4% to 3.75% for the first time in almost five years. Reuters indicated that the pan-European STOXX 600 climbed by 0.8% and the MSCI All World Country Index…
Monetary Policy Announcements from India and Russia and Awaiting U.S. Jobs Report June 7, 2024 The dollar marked time overnight and is currently unchanged against the euro and Swissy, down 0.1% relative to sterling and the yen but up 0.1% vis-a-vis the Canadian and Australian dollars. The Mexican peso extended yesterday’s rebound. U.S. stock futures…
By David Randall NEW YORK (Reuters) – Meme stock traders will be glued to their screens on Friday, when Keith Gill, online influencer and a key figure behind the eye-popping rally in shares of GameStop (NYSE:) in 2021, is expected to host his first YouTube livestream in three years. The “Roaring Kitty” channel on YouTube…
Aramco (Saudi Arabian Oil Company: 2222.SR) will likely raise as much as $11.2bn with its mega share offering to fund Saudi Arabia’s attempt to overhaul its economy. Based on a Bloomberg report, this would be the “biggest such deal globally in three years”. Unnamed sources indicated that the Saudi government is aiming to sell approximately…
2024.06.07 2024.06.07 WTI Crude Oil: Elliott wave analysis and forecast for 07.06.24 – 14.06.24 Alex Geutahttps://www.litefinance.org/blog/authors/alex-geuta/ Main scenario: consider short positions from corrections below the level of 80.85 with a target of 63.77 – 55.00. Alternative scenario: breakout and consolidation above the level of 80.85 will allow the asset to continue rising to the levels…
Amazon (AMZN) is being sued by a consortium of British retailers that claim that the technology giant misused their data to help push them out of the market and boost its own products. The claim they’re making is for damages reaching £1.1bn. The group is being represented in the court action by the British Independent…
2024.06.07 2024.06.07 USDJPY: Elliott wave analysis and forecast for 07.06.24 – 14.06.24 Alex Geutahttps://www.litefinance.org/blog/authors/alex-geuta/ Main scenario: consider long positions from corrections above the level of 154.37 with a target of 161.50 – 167.00. Alternative scenario: breakout and consolidation below the level of 154.37 will allow the pair to continue declining to the levels of 151.68…
The Japanese yen is calm on Friday. In the European session, USD/JPY is trading at 155.50, down 0.06% on the day at the time of writing. Japan’s household spending slips Japan’s economic activity has been sluggish and household spending, a key driver of economic growth, declined by 1.2% m/m in April. This followed a 1.2%…
2024.06.07 2024.06.07 GBPUSD: Elliott wave analysis and forecast for 07.06.24 – 14.06.24 Alex Geutahttps://www.litefinance.org/blog/authors/alex-geuta/ Main scenario: consider long positions from corrections above the level of 1.2668 with a target of 1.2910 – 1.3100. Alternative scenario: breakout and consolidation below the level of 1.2668 will allow the pair to continue declining to the levels of 1.2447…
2024.06.07 2024.06.07 Pound posts clear gains. Forecast as of 07.06.2024 Dmitri Demidenkohttps://www.litefinance.org/blog/authors/dmitri-demidenko/ The Labour Party will highly likely win the general election. However, what if it turns out to be unconditional? Is GBPUSD poised for a collapse, as in the case of the Mexican peso? Let’s talk about this topic and make a trading plan….