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Summary The FOMC remained on hold for the sixth consecutive policy meeting on May 1 as elevated inflation and strong job growth earlier this year led policymakers to conclude that policy easing at that time would not be appropriate. Data released since the last meeting indicate that the threat of price re-acceleration due to strong […]

The post June Flashlight for the FOMC Blackout Period appeared first on Action Forex.

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27/05/2024

EURUSD Ticks Up Before Testing Descending Trendline

EURUSD retreats from a fresh 2-month high of 1.0894 But meets support a tad above its long-term restrictive trendline Oscillators suggest bulls remain in charge despite the latest drop EURUSD had been in a steady advance following its 2024 bottom of 1.0600 on April 16. However, the pair reversed lower after its rejection at a fresh two-month […]
03/07/2024

FOMC June Meeting Minutes Will Offer Some Insights into the Debate

Markets Markets took it slow yesterday. Neither consensus-matching European CPI (0.2% m/m, 2.5% y/y) nor the policy panel at Sintra featuring ECB president Lagarde and Fed chair Powell really moved the needle. The latter said that disinflation returned in April and May but wants additional evidence before contemplating cuts. He added, however, that risks are […]
18/06/2024

Nasdaq 100 Index Reaches 20,000 Points for the First Time

On 30 May, we noted some uncertainty in the price behaviour of the Nasdaq 100 (US Tech 100 mini on FXOpen) near the resistance level of 18,840, as shown by arrow #1. Following this, the price declined and tested the former resistance at 18,250 (indicated by arrow #2) – the long lower shadow on the […]