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Markets ECB members came out “en masse” today, resembling the recent push by the US central bank. Hawkish Austrian ECB Holzmann immediately pulled an interesting string. He supports our “sequence” call, stressing that he didn’t see any circumstances for the ECB to cut policy rates before the Fed. We’re on the same line, arguing that […]

The post Sunset Market Commentary appeared first on Action Forex.

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24/07/2024

The First View on Big Tech Earnings Wasn’t Inspiring

The first view on Big Tech earnings wasn’t inspiring. Tesla’s earnings missed estimates for the 4th consecutive quarter as revenue from car sales declined 7%. The company’s energy generation and storage revenue doubled and services revenue rose 21%, but the latter couldn’t make up for the EV sales decline. As a result, Tesla earned $1.48bn […]
15/08/2024

Retail Sales Is Counterprogramming the Job Report

Summary In the month of July retailers saw a sales increase of $6.8 billion, or 25% of the total gain from the prior two years in a single month. While most of that was an autos bounce after an ugly June, gains were broadly based and thus at odds with reports of a more cautious […]
01/05/2024

AUD/USD Stabilizes After Taking a Tumble, Fed Next

The Australian dollar has steadied on Wednesday after sliding 1.4% a day earlier. AUD/USD is up 0.19%, trading at 0.6489 at the time of writing in the North American session. Australian dollar slides after soft retail sales Retail sales in Australia fell 0.4% m/m in March, following a downwardly revised 0.2% gain in February and […]