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The Dollar Index is retreating from Thursday’s highs, moving against the logic of fundamental forces. This behaviour begs the question: either the Dollar Index has reached the limits of its range, or this is an extended shake-out of positions after a prolonged rally. The DXY rallied to 106.99 last Thursday, almost repeating the October 2023 […]

The post Temporary Dollar Dip or Intrinsic Euro Strength? appeared first on Action Forex.

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24/05/2024

S&P 500 Analysis: Good News is Bad News

Yesterday, S&P Global reported its Purchasing Managers’ Index (PMI) values for the US, which exceeded expectations. According to ForexFactory: → Manufacturing PMI: actual = 50.9; expected = 50.0; previous = 50.0. → Services PMI: actual = 54.8 (the highest value since May 2023); expected = 51.2; previous = 51.3. However, the high PMI values, indicating […]
20/08/2024

Sunset Market Commentary

Markets Markets took a breather today during the European session. The dollar (DXY) yesterday closed below 102 for the first time since early January and remains stuck there. The greenback even extends losses as US investors enter the market. European stock markets tread water after completely recovering from the early August meltdown. The same reasoning […]
15/03/2024

Will Canada’s CPI Data Rescue the Wounded Loonie?

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