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In focus today and over the weekend Today, focus turns to the German Ifo growth indicator for October. The Ifo survey is more extensive than the PMIs and it will be very interesting to see if it mirrors the recent uptick observed in the PMIs yesterday. In the euro area, September data on credit growth […]

The post Weak PMIs Keep ECB Jumbo Cut Speculation Alive appeared first on Action Forex.

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Divergence Between Euro and US Dollar Outlook

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USDCAD Still Near the Almost 3-Month High

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29/08/2024

Today and Tomorrow, Attention Shifts to Economic Data

Nvidia generated a record $30bn in sales in Q2 – up by 122%, the profits surged 166% to $16.6bn, the company said that they expect to sell $32.5bn in the current quarter (more than $31.9bn expected by analysts) and announced a $50bn share buyback program. It could hardly do better. The actual results and the […]
15/12/2023

AUDUSD Looks for Bullish Expansion

AUDUSD marks new higher high, breaks key resistance area Short-term bias positive, but 0.6715 zone adds some pressure AUDUSD experienced a spectacular rally after a dovish FOMC policy meeting earlier this week, crawling as high as 0.6727 on Thursday – the highest level since the end of July. The bulls have finally breached the resistance […]
21/03/2024

Interesting Divide Between Markets’ and Our Interpretation on Fed

Markets Let’s dive right into yesterday’s Fed meeting. There’s an interesting divide between markets’ and our interpretation. For the former it was nothing but an outright dovish, cuts-are-coming-soon tribute. The three major US stock indices simultaneously closed at record highs. US yields turned south, slipping more than 8 bps at the front. The dollar tanked. […]