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Last week ended with slowing appetite after the Federal Reserve (Fed) cast doubt on another 25bp cut in December and Big Tech earnings failed to impress investors despite beating lofty expectations. But nearly two-thirds of S&P 500 companies have already reported earnings, showing more than 10% year-on-year growth — higher than analysts had expected and […]

The post OPEC Says Enough appeared first on Action Forex.

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02/04/2024

Australian Central Bank Meeting Removes Rate Hike Option – Minutes

The Reserve Bank of Australia minutes of the March meeting indicated that there was no mention of raising interest rates. This points to a less hawkish stance but the Australian dollar is unchanged following the release of the minutes. Reserve Bank drops reference to rate hike The RBA maintained the cash rate at 4.35% at […]
07/06/2024

Week Ahead – Fed and BoJ Decide on Monetary Policy

US CPI data and Fed to determine the dollar’s fate Will the BoJ signal that another rate hike is looming? Pound traders await UK employment and GDP numbers RBA hike bets shrink ahead of AU jobs and China CPI data Mind the dots With US inflation resuming its downtrend in April and the ISM manufacturing […]
01/07/2024

EUR/USD Outlook: Post-French Election Rally So Far Capped by Thickening Daily Cloud

EURUSD opened with gap-higher and rose to three-week high in early European trading on Monday, lifted by results of the first round French parliamentary election. Rally was capped by the base of thickening daily cloud, following last week’s cloud twist, with subsequent easing, pointing to strength of 1.0778/1.0800 resistance zone (daily cloud, spanned between 1.0777 […]