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Markets Markets took a breather today during the European session. The dollar (DXY) yesterday closed below 102 for the first time since early January and remains stuck there. The greenback even extends losses as US investors enter the market. European stock markets tread water after completely recovering from the early August meltdown. The same reasoning […]

The post Sunset Market Commentary appeared first on Action Forex.

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11/07/2024

EUR/GBP Technical: Make the Pound Great Again

EUR/GBP has resumed its downward trajectory since the start of the year, now trading close to a 2-year low at 0.8320. Unfavourable political environment in France versus a newly formed Labour-led UK government that favours pro-growth policies may see further underperformance of the Euro against the Pound. EUR/GBP continues to oscillate within a short-term downtrend […]
16/04/2024

Hard to Justify a Cut

A stronger-than-expected retail sales data from the US cemented the idea that the US economy remains too strong for the Federal Reserve (Fed) to cut the rates in summer. Retail sales jumped 0.7% in March on a monthly basis, more than 4% on a yearly basis, the 3 and 6-month bill auctions were weak, and […]
31/07/2024

Canada’s Economy Advanced in May, Modest Growth Expected in June

The Canadian economy grew for a second consecutive month, up by 0.2% month-on-month (m/m). This print landed ahead of Statistics Canada’s advanced guidance and market expectations of a 0.1% m/m gain. The flash estimate for June points to a 0.1% m/m gain. May’s reading was broad-based, with output expanding in 15 of 20 industries. Goods-producing […]