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Markets Markets build on recent momentum today in absence of eco data of any significance on both sides of the Atlantic. European stock markets correct a second session straight up and over 1% (underwhelming outcome EU Summit?!) with opening losses of similar magnitude in the US. Disappointing earnings by the likes of FedEx and Nike […]

The post Sunset Market Commentary appeared first on Action Forex.

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28/08/2024

EUR/USD Outlook: Bulls Pausing Under 1.1200 Barrier

EURUSD edges lower on Wednesday after repeated failure to break 1.1200 barrier, but near-term action can be described as consolidation, as long as the price stays above first pivots at 1.1124/14 (trendline support/rising 10DMA) and 1.1100 (higher base/Fibo 23.6% of 1.0777/1.1201). Negative signals are developing on daily chart (14-d momentum diverged from the price and […]
18/10/2024

China Stimulus and Headwinds

China has announced a range of stimulus measures recently. This pivot has been needed partly because of longstanding fragilities. It is hard to see a lasting upside for Australian iron ore exports from the moves. In recent weeks, Chinese authorities have announced a range of stimulus measures, along with some vaguer statements of intent to […]
11/06/2024

US: Small Business Optimism Index Improves in May

NFIB’s Small Business Optimism Index rose 0.8 points to 90.5 in May, beating market expectations for a flat reading of 89.7. Half of the ten subcomponents improved on the month, three deteriorated, and two remained unchanged. The improving categories included expectations for the economy to improve (up 7 point to -30%), expectations for credit conditions […]