Formation Triangle patterns are formed during periods of consolidation in forex charts usually. Typically, they come midway through either an uptrend or a downtrend. The most important aspect of these formations is that they usually signal a high likelihood of a continuation of an existing trend. When a breakout is spotted leaning towards the previous trend, traders take … [Read more...] about Getting It Right With Triangle Chart Patterns
Inflation Zooms to Highest in Nearly 13 Years
Source: US Labor Department U.S. headline inflation accelerated to 5% in May to reach its highest level in over 12 years. The all items index recorded its biggest year-on-year growth since inflation clocked in at 5.4% in August 2008.Inflation has been on an uptrend since January's reading of 1.4%.Core inflation for the month came in at 3.8%, the highest in 28 years since … [Read more...] about Inflation Zooms to Highest in Nearly 13 Years
Jobless Claims Slip by 9,000 to Maintain Levels Below 400,000
Source: US Department of Labor US jobless claims fell by 9,000 to 376,000 for the week that ended on June 5. DXY is down 0.07%, SPY is up 0.65%, QQQ is up 0.98% The jobless claims are now at the lowest level since March 14, 2020. On a 4-week moving average, jobless claims fell by 25,500 to hit 402,500. The claims were the lowest since March 14, 2020Continuing … [Read more...] about Jobless Claims Slip by 9,000 to Maintain Levels Below 400,000
ECB Stands Pat on Policy Rates and Bond Buying Program
Source: CNBC The European Central Bank kept its policy rates steady on Thursday as it maintained that the uptick in inflation is transitory. The ECB left its ultra-low interest rates unchanged -- the headline eurozone rate at 0% and deposit rate at -0.5%.It maintained its 1.85-trillion euro bond-buying program until March 2022 under the Pandemic Emergency Purchase Program … [Read more...] about ECB Stands Pat on Policy Rates and Bond Buying Program
What Investors Are Looking Out For in British Stocks
Source: Reuters International investors have returned to U.K stocks which are now the most overweight in seven years. Investors are looking at a slew of data to decide on which stocks to pick after exiting the market during the Brexit referendum in 2016.Traffic congestion data could drive a boom in stocks related to retail, and beverage.Consumer behavior data will … [Read more...] about What Investors Are Looking Out For in British Stocks
