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The U.S. economy expanded by 2.3% quarter-on-quarter (q/q, annualized) in the fourth quarter, a touch lower than the consensus forecast of 2.6%. Growth for 2024 as a whole was 2.8%, showing little slowing from 2023’s 2.9% pace. Consumer spending defied expectations for a slowdown, accelerating to 4.2% q/q from 3.7% in the previous quarter. The […]

The post U.S. Economic Growth Eased But Remained Healthy at the End of 2024 appeared first on Action Forex.

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08/05/2024

USD Extends Gains as Investors Shrug Off Fed Optimism

Yesterday was one of those days where we needed to fit a narrative to the market moves as the moves weren’t triggered by meaningful data or comments. The US 2-year yield was steady near the 4.80% level, the stocks were slow to move, the S&P500 traded slightly up, Nasdaq 100 came slightly down. Federal Reserve’s […]
28/05/2024

Oil Gains on Mounting Mid-East Tensions, China Support

Yesterday was a slow Monday. The US and the UK markets were closed, the news flow was light and the trading volumes were thin. The barrel of US crude trades a touch below its 100-DMA. The tense geopolitical setup is supportive of further gains along with the rising US demand into summer and OPEC’s restrictive […]
02/09/2024

AUD/USD: Recent Rally of Aussie Dollar May Face a Ceiling Below 0.6900

The recent 7.4% rally in the AUD/USD from its 5 August 2024 low has been driven by a resurgence of risk-on behaviour and the US Fed’s dovish pivot. Weak China’s manufacturing PMI data and housing market are likely to be in the driving seat now to potentially dictate the sentiment of the AUD/USD. Further weakness […]