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Summary United States: It’s Halloween. Everyone’s Entitled to One Good Scare. Nonfarm payrolls rose a much weaker-than-expected 12K in October. Worker strikes and hurricanes played a major role in the headline miss. The unemployment rate, which is derived from the household survey and counts those not working due to a strike or severe weather as […]

The post Weekly Economic & Financial Commentary: What Goes Up, Must Come Down appeared first on Action Forex.

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07/03/2024

Sunset Market Commentary

Markets Yesterday’s risk correction on Wall Street didn’t spill to European dealings with key indices adding up to 0.5%. January EMU retail sales barely grew (0.1% M/M vs 0.2% consensus), but obviously didn’t impact trading ahead of tomorrow’s ECB gathering. Employment indices in US manufacturing ISM last Friday (45.9 from 47.1) and non-manufacturing ISM yesterday […]
19/06/2024

AUDCAD Bulls Stay in the Driver’s Seat

AUDCAD rebounds and breaks above 0.9125 Overall, it remains above a prior upside channel The advance may continue towards the 0.9230 zone A dip below 0.9000 could signal a bearish correction AUDCAD rebounded strongly on Tuesday, extending its recovery above the key resistance zone of 0.9125. Overall, the pair is trading above the upper bound of […]
22/01/2024

Technical Outlook and Review

DXY: The DXY (US Dollar Currency Index) chart is currently experiencing a bearish overall momentum, indicating weakness in the US Dollar. According to your analysis, there is potential for a bearish continuation towards the 1st support level. The 1st support at 102.66 is considered a significant level of support due to its categorization as a […]