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U.S. Highlights The U.S. economy added 272k jobs in May, while the unemployment rate ticked up to 4.0%. The ISM Purchasing Managers’ Indexes showed manufacturing activity continued to contract in May, while services activity returned to growth. Central banks in Canada and Europe started to cut interest rates this week, which has heightened the focus […]

The post The Weekly Bottom Line: Labor Market Resilience Highlights Global Policy Rate Divergence appeared first on Action Forex.

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11/01/2024

After Bitcoin-ETF Approval, Speculators Switch to Ethereum

Market picture The US Securities Commission (SEC) has announced the approval of the Bitcoin-ETP. The initial fake announcement of this created a spike in volatility. This is a stark reminder of how short-term traders are vulnerable to volatility from the news. Bitcoin soared to $48K before returning below $45K. Technically, these moves fit into a […]
20/06/2024

GBP Awaits Bank of England Verdict: Volatility Ahead?

GBP/USD In the first half of the current trading week, the GBP/USD pair has confidently stayed above the significant range of 1.2700-1.2650, continuously attempting to resume its upward trend. Today, everything could change. Depending on the outcome of the Bank of England meeting and the market’s reaction to the officials’ decision, the pair could either […]
12/04/2024

US DJIA Technical: Major US Banks’ Q1 Earnings in Focus Over Adverse Macro Factors

Three major US banks; JPMorgan Chase, Citigroup, and Wells Fargo will report their Q1 2024 earnings results today. JPMorgan Chase is ranked 13th in terms of component weightage in the DJIA. Analysts’ Q1 earnings estimates for these three US banks have been lowered which increases the possibility of positive earnings surprises. Technical analysis suggests a […]