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US equities recovered for the second session on Monday, after a 10% selloff brought the S&P500 to the limit of the correction zone last Thursday. The rebound was backed by the-oversold conditions and mixed retail sales data released yesterday, showing that the retail sales in the US slowed in February but not collapsed. Moreover, the […]

The post Vulnerable Optimism appeared first on Action Forex.

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01/10/2024

EUR/USD Rate Accelerates Decline Following European Inflation News

According to the Eurostat data released today: → Core CPI Flash Estimate (YoY): actual = 2.7%, expected = 2.7%, previous = 2.8%; → CPI Flash Estimate (YoY): actual = 1.8%, expected = 1.8%, previous = 2.2%. This news, coupled with yesterday’s statements from the Fed Chair, led to the EUR/USD rate dropping by over 1% […]
27/06/2024

What Could UK General Election Mean for Pound?

UK citizens head to the ballots on July 4 Opinion polls point to a Labour Party victory Political stability could initially benefit the pound But BoE rate cut bets could prove negative in the longer run How it works On July 4, Britons will head to the ballots to vote in a general election, with […]
12/12/2023

Germany 30 Technical: A Potential Minor Corrective Decline Looms

Short-term RSI momentum indicator has flashed out bullish exhaustion condition after 6 consecutive weekly positive closes. At the risk of minor corrective decline sequence below 16,910 key short-term resistance. Intermediate supports rest at 16,590 and 16,440. The Germany 30 Index (a proxy for the DAX futures) has managed to soar towards the 16,780/850 resistance zone […]