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The Consumer Price Index (CPI) rose 0.2% month-on-month (m/m) in July, bang-on the consensus forecast. On a twelve-month basis, CPI fell to 2.9% (from 3.0% in June). After exerting a measurable drag in each of the two prior months, energy prices were largely flat in July. Food prices matched last month’s gain, rising 0.2%. Excluding […]

The post US: Inflationary Pressures Continue to Ease in July, Solidifying a September Rate Cut appeared first on Action Forex.

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Soft-Landing, or No Soft-Landing, That Is the Question: Part II

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09/01/2024

EURUSD Flirts With 20-day SMA

EURUSD rebounds off 1.0875 50- and 200-SMAs post golden cross Price is still well above uptrend line EURUSD is rising somewhat after the pullback off the 1.0875 support level and has been battling with the 20-day simple moving average (SMA) over the last four sessions. It is worth mentioning that the 50- and the 200-day […]
02/01/2024

NZD/USD Holds Above 0.6300 ahead of China’s Caixin PMI Data

NZD/USD trades on a softer note near 0.6313 on the downbeat Chinese economic data. The Chinese NBS Manufacturing PMI came in at 49.0 in December vs. 49.4 prior, worse than expected. The markets expect that the Fed will begin its easing cycle with a quarter-point drop in March. Market players await December’s Caixin Manufacturing PMI […]
16/01/2024

AUDUSD Slips to 1-month Low

AUDUSD posts a new negative wave RSI looks oversold 50- and 200-period SMAs ready for bearish cross AUDUSD is plunging towards a fresh one-month low of 0.6606 today, confirming the negative structure that started from 0.6870. Technically, the short-term risk is leaning to the downside. The MACD oscillator is extending its negative momentum beneath its trigger […]