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Markets With few important data on the agenda, trading on US and EMU (bond) markets was mainly order driven and technical in nature. At the start of the session, Bunds tried to extend their recent rally, but the move soon stalled. ECB’s Nagel airing that its too early to speculate about rate cuts hardly can […]

The post Sunset Market Commentary appeared first on Action Forex.

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US Yield Curve Impressively Bull Steepened

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03/04/2024

EUR/USD Drifting as Eurozone Inflation Drops

The euro is showing little movement on Wednesday. In the European session, EUR/USD is trading at 1.0777, up 0.05%. Eurozone inflation ticks lower Inflation in the eurozone continues to decline. March CPI eased to 2.4% y/y, down from 2.6% in February and below of the market estimate of 2.6%. This matched November’s 28-month low and […]
07/06/2024

ECB Cuts Rates as Expected, US Jobs Report Today’s Main Event

In focus today Today’s main data event will be the US May Jobs Report. We expect nonfarm payrolls to have grown by 190k, a modest uptick from April when weak public sector jobs growth weighed on the headline figure. Average hourly earnings growth likely remained steady at 0.2% m/m and we think unemployment rate will […]
13/05/2024

Gold Price (XAU/USD) Is Testing an Important Resistance Zone

On April 16, we wrote why the $2,380 zone is an important resistance area. The XAU/USD chart shows that: 1) After fading fluctuations (they formed a narrowing consolidation triangle – shown in green), the price of gold dropped sharply (shown by a black arrow) on April 22-23. 2) Then, the price found support in the […]