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U.S. Highlights This week’s data all flashed signs of an economy slowly gearing down. Both ISM indicators signaled contraction, while revisions to prior month’s payrolls gains and an uptick in the unemployment rate show the labor market continues to cool. All eyes will now be focused on next week’s Consumer Price Index report to see […]

The post The Weekly Bottom Line: Gearing Down appeared first on Action Forex.

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03/07/2024

CADJPY Wave Analysis

CADJPY broke key resistance level 117.00 Likely to reach resistance level 119.00 CADJPY currency pair recently broke through the key resistance level 117.00 (which stopped the pervious sharp upward impulse wave (1) at the end of April, as can be seen below). The breakout of the resistance level 117.00 accelerated the active impulse wave 3 […]
13/03/2024

USD: CPI Sets The Tone For Further Movements

The US Bureau of Labor Statistics (BLS) reported that the Consumer Price Index (CPI) in the US increased to 3.2% year-over-year in February from 3.1% in January. The Core CPI, which excludes volatile food and energy prices, rose 3.8% year-over-year, slightly below January’s 3.9% but above market expectations of 3.7%. Both the CPI and Core […]
09/05/2024

April CPI Preview: The Clock Is Ticking for a September Cut

Summary A string of uncomfortably-hot inflation readings in the first quarter leaves a narrow window for inflation to downshift before a late summer rate cut by the Federal Open Market Committee (FOMC) is no longer on the table. We expect the April CPI report to demonstrate that while inflation is not as sticky as the […]