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Markets Despite plenty of (geopolitical) headlines (call between Trump and Putin; debate/rumors on the structure of US reciprocal tariffs after April 2) there was no unequivocal theme to guide global markets. If anything, European and Asian risk sentiment remains constructive compared to a deteriorating sentiment on US markets. After rebounding yesterday, US equities again incur […]

The post Sunset Market Commentary appeared first on Action Forex.

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08/11/2024

USDCAD Retains Bullish Bias Above 20-day SMA

USDCAD posts new 25-month high but currently stands beneath it Stochastics and RSI show positive signs USDCAD has been developing above the 20-day simple moving average (SMA) since the bounce off the 1.3815 support level and is trying to regain ground. Daily oscillators suggest that the upside momentum is still in place, reflecting the pullback […]
03/10/2024

Could Friday’s Data Tip the Balance in Favour of a 50bps Fed Rate Cut?

 Discussions about the size of the November Fed rate cut continue Mixed labour market data up to now with ADP surprising on the upside Friday’s data matters the most; non-farm payrolls seen rising by 140k Geopolitics boost demand for dollar, data could reverse this trend Fed rate cut discussions continue With the market trying to […]
09/01/2024

GBPUSD Gains Some Confidence for New Higher High

GBPUSD returns above key support trendline, reduces negative risks Technical signals are encouraging for a continuation to 1.2850-1.2900 GBPUSD stepped on the 20-day simple moving average (SMA) and climbed back above the broken short-term support trendline from October at 1.2720, reviving hopes that the soft four-day bullish wave could gain extra legs in the coming sessions. […]