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Markets At its keynote Jackson Hole speech on Friday, Fed Chair Powell explicitly reconfirmed the change in the Fed’s assessment on the balance between fighting inflation and preserving maximum employment it already signaled at the July policy meeting. ‘The upside risks to inflation have diminished. And the downside risks to employment have increased.’ The Fed’s […]

The post For Now, We Don’t Fight the Broader USD Downtrend appeared first on Action Forex.

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18/01/2024

EURUSD Finds Support at the 200-day SMA

EURUSD had been rangebound before sliding lower But the retreat ceases at the 200-day SMA Momentum indicators remain tilted to the downside EURUSD had been trading sideways since the beginning of the year following its pullback from the December high of 1.1138. The pair spiked lower on Tuesday, but the congested region that includes the 200-day […]
22/07/2024

WTI Oil Outlook: Bears Taking a Breather After 4.3% Weekly Drop

WTI oil price is holding within a narrow consolidation in early Monday, following sharp acceleration lower on Friday (down 2.8% for the day) and weekly loss of 4.3% (the biggest weekly drop since the last week of April. Oil closed below $80 on Friday, for the first time in five weeks, with near-term action being […]
20/12/2023

UK Inflation Falls Faster Than expected

Isn’t it amazing how investors ignore the hawkish Federal Reserve (Fed) comments but fully embrace the dovish commentaries. Fed’s Thomas Barkin’s words that suggested that the Fed could cut rates if recent progress inflation continues sent the Nasdaq 100 to a fresh record for the 3rd consecutive day and the S&P500 to a fresh ytd […]