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In focus today August Flash PMIs are due for release today from the euro area, the UK and the US. July figures signaled weakening growth momentum especially in the euro area as the manufacturing index remains well in recession territory. We still forecast positive growth for all three economies during H2 and more upbeat PMIs […]

The post FOMC Ready For September Rate Cut After Minutes and Weaker Job Growth appeared first on Action Forex.

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AUDUSD Loses Some Positive Momentum

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20/05/2024

How High is Too High?

Equity bulls around the globe celebrated in style the softer-than-expected US CPI data last week. The global equity rally was further juiced by the expectation that a softer inflation in the US would not only allow the Federal Reserve (Fed) to start cutting the rates this year, but also allow the other major central banks, […]
05/03/2024

Bitcoin Will Have to Settle Here

Market picture The cryptocurrency market hit new highs on Monday, reaching a capitalisation of $2.5 trillion. Profit-taking was evident at the start of the active trading session in Asia on Tuesday. But before this, the market lacked enthusiasm. Bitcoin peaked at $68,789, just $122 below its historical high. This is before the halving and before […]
30/01/2024

EURUSD – Repeated Probe Through Pivotal Supports Adds to Negative Near-term Bias

Bearish pressure rises on break below 200DMA (1.0841) and probe through 1.0821 Fibo support (76.4% retracement of 1.0723/1.1139 upleg), as fresh bears also violate the floor of four-day congestion. Firm break lower to signal continuation of short-term downtrend from 1.1139 (Dec 28 peak) and expose targets at 1.0771 / 56 (100DMA / daily cloud base) […]