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The dollar strengthened, and stocks fell after statistical data from the US. The focus was on the preliminary estimate of GDP for the first quarter. Annualised quarterly growth came in at just 1.6%, down from the 2.5% and 3.4% previously forecast. Disappointment increased given that exceeding forecasts has become the norm. GDP growth for the […]

The post US Economy: Slower Growth With Stronger Inflation appeared first on Action Forex.

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20/09/2024

Hawkish Market Surprises from Norges Bank and Bank of England

In focus today In the euro area September consumer confidence is due for release. Consumer confidence has been on an upward trend but remains below the historical average and consumer spending is weak. As real incomes are rising and the labour market remains strong, we expect confidence to keep improving, which should support consumption especially […]
04/10/2024

USDCAD Holds on Recovery Action as NFP Report Awaited

USDCAD returns above 20-day EMA and familiar constraining line Technical signals cannot warrant a meaningful rally September’s US nonfarm payrolls due at 12:30 GMT USDCAD continued its upward movement from a seven-month low of 1.3418, surpassing its 20-day exponential moving average (EMA) and the constraining ascending line from the 2021 low. The range of 1.3580-1.3620, which […]
17/03/2025

German Fiscal Package Negotiations Take Centre Stage

In focus this week The main spotlight of the week will be on news regarding the negotiations of the German fiscal package. The package is scheduled to be passed in the Bundestag on Tuesday and then in the Bundesrat on Friday, with expectations for approval. Merz states that CDU/CSU unanimously support the proposal, although there […]