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U.S. Highlights The July report for the Consumer Price Index showed headline inflation fell below 3% for the first time since March 2021. U.S. retail sales surpassed expectations in July, rising 1.0% month-on-month. Federal Reserve Chair Jerome Powell’s remarks during next week’s Jackson Hole Symposium will headline the week. Canadian Highlights Bad news for Canada’s […]

The post The Weekly Bottom Line appeared first on Action Forex.

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18/01/2024

Sunset Market Commentary

Markets ECB president Lagarde immediately set the tone for trading in a Bloomberg interview at the World Economic Forum in Davos. She repeated that the ECB is watching wages, profit margins, energy prices and supply chains over the next months before firmly concluding that inflation is on a sustained path towards the central bank’s 2% […]
17/04/2024

Bitcoin and Ethereum in Eye of Storm?

Market picture The crypto market avoided sharp moves on Tuesday, showing low volatility over the 24 hours and remaining near $2.3 trillion. The Crypto Fear and Greed Index added 2 points to 67 (greed) by Wednesday. Bitcoin’s share of the entire crypto market capitalisation exceeded 54%, maintaining its upward trend since December 2022. This is […]
18/07/2024

Elliott Wave Intraday: Rally in Bitcoin (BTCUSD) Looking Impulsive

Rally from 7.5.2024 low in Bitcoin (BTCUSD) looks impulsive suggesting further upside. Pullback to 53570 ended wave ((4)) and Bitcoin has turned higher in wave ((5)). The crypto currency still needs to break the previous all-time high on 3.14.2024 high at 73794 to rule out any double correction. Up from wave ((4)), wave ((i)) ended […]