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Chinese authorities think that the country could achieve its 5% growth target with the stimulus measures that have already been announced, but investors not much so. On the contrary, the investor community was expecting that the government would announce a fiscal package of as much as 3 trillion yuan to complement the latest monetary measures […]

The post Oil’s Short-Term Risks Remain Tilted to the Upside appeared first on Action Forex.

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China Indices Suggest Ongoing Doubts of Efficacy and Amount of Stimulus

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22/11/2024

EUR/USD Breaks 2023 Low

Today’s PMI figures were released and came in worse than analysts’ expectations. The Flash Manufacturing PMI and Flash Services PMI for both Germany and France fell below the 50.0 threshold, indicating that Europe’s economy is slowing down. This weakened the euro further and exacerbated the situation on the EUR/USD chart, which has been in a […]
13/12/2024

AUD/USD: Surviving at 0.6360 Key Support (For Now) But Long-Term Trend Remains Bearish

RBA has shifted to a less hawkish monetary policy stance. The interest rate swaps market has started to price in a higher chance of the first RBA interest rate cut to come in February 2025. The 2-year and 10-year yield spreads between Australian government sovereign bonds and US Treasuries continued to narrow. Growing risk for […]
15/12/2023

WTI Oil Technical: Momentum-Term Downside Momentum Has Eased

Two key positive technical analysis elements have emerged at the US$67.55/66.35 major support zone. The current medium-term downtrend phase from September 2023 may have reached a terminal point for a potential bullish reversal. China’s rosy retail sales and industrial production for November managed to offset downbeat housing data that provided a short-term tailwind for oil […]