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The ISM Services index fell 3.9 points to 52.1 in November, well short of the 55.7 consensus expectations. Fourteen industries out of eighteen reported growth, the same as in October. Broad based weakness across component sub-indexes weighed on the headline measure. Business activity and new orders both suggested ongoing growth (53.7) despite falling 3.5 and […]

The post US: ISM Services Index Tumbles to Lowest Print Since June, But Still Points to Growth appeared first on Action Forex.

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22/08/2024

A Questionable Reaction to the Big BLS Revision

The minutes from the latest FOMC meeting showed yesterday that ‘several’ Federal Reserve (Fed) officials were ready to cut rates at the June meeting, while ‘vast majority’ of them were convinced that September would be a good time to start cutting. Some officials were concerned that cutting the rates prematurely could risk reversing the progress […]
10/07/2024

NZD/USD Outlook: Kiwi Dollar Down 1% on Dovish RBNZ

NZDUSD was sharply lower during Wednesday morning (down almost 1% for the session) deflated by the Reserve Bank of New Zealand’s dovish stance. The central bank left interest rates unchanged at 5.5%, as widely expected, but signaled that the door for possible rate cut remains open, should inflation continue to ease in line with expectations. […]
12/12/2024

EURJPY Aims for 161.00, Gets Blocked by 20-Day SMA

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