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Markets Friday’s risk rally continued going into the start of a busy week. US and Chinese negotiators have agreed on key matters during trade talks in the sidelines of the ASEAN leaders summit in Malaysia. Some of the sticky points that have been resolved include a resumption of Chinese purchases of US soybeans and a […]

The post Sunset Market Commentary appeared first on Action Forex.

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10/01/2024

Weakest Growth Since 1990s

The World Bank said yesterday that it expects growth to fall to 2.2% for the period that includes 2020 and 2024 and that’s the slowest 5-year period since 1990-1994. The slowing global growth expectations somehow keep the global yields subdued, but at 4% yield, the US 10-year bond is expensive and may not have much […]
23/09/2024

Focus on Euro Area and US PMIs Today

In focus today Today, focus is on the euro area PMIs for September. The service PMIs got a ‘golden boost’ from the Olympics in France in August, which likely reversed in September. While we expect overall momentum in services activity remained broadly unchanged compared to August, we expect the PMIs to decline due to the […]
04/04/2024

GBP/USD: Slight Bullish Bias Above 200-DMA But Thin Daily Cloud Still Significant Obstacle

Cable extends recovery from 1.2540 double bottom (Apr 1 / 2 lows) and pressuring significant barrier at 1.2674 (daily cloud top / Fibo 38.2% of 1.2893/1.2539), as bulls regained traction after a false break below pivotal 200DMA support (1.2586). Near-term action is expected to keep slight bullish bias while holding above 200DMA, though sustained break […]