Logo-color Logo-white

The U.S. economy expanded by 2.8% quarter-on-quarter (q/q, annualized) in the third quarter, a touch lower than the consensus forecast of 3.0%. Consumer spending accelerated at its fastest pace since the first quarter of 2023, rising 3.7% q/q. The gain was driven by a sharp rise in goods spending (+6.0% q/q), while spending on services […]

The post U.S. economic growth remains healthy on the eve of the election  appeared first on Action Forex.

previous

USDCAD Rallies Near 22-Month Peak

next

Sunset Market Commentary

Read More

23/08/2024

Markets Dynamics Could be at a Short Term Tipping Point

Markets Yesterday’s EMU data releases cement the case for a second 25 bps rate cut by the ECB when they meet next on September 12. PMI’s picked up because of the 2024 Paris Olympics (French services), but that was only the tip of the iceberg. The manufacturing sector remains mired in recession. New orders fell […]
13/05/2024

Sunset Market Commentary

Markets All eyes are on Wednesday’s US CPI inflation print and to a lesser extent its PPI precursor tomorrow. That led to stoic, listless trading at the start of the new week. China announced during early Asian dealings that it will kick off its CNY 1tn stimulus plan on Friday with a CNY 40bn 30-yr […]
29/07/2024

GBP/USD Outlook: Bears Resume After a Brief Consolidation

Cable fell further at the beginning of the week, after larger bears paused for consolidation on Friday. Current bets show 60% chance of BoE rate cut at Thursday’s policy meeting, which continues to weigh on sterling. Technical picture on daily chart weakened further after Monday’s acceleration broke below 1.2830 pivot (50% retracement of 1.2615/1.3044 / […]