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U.S. Highlights A second reading on U.S. GDP showed that the economy expanded by an even more impressive 5.2% (annualized) last quarter, a 0.3 percentage point upgrade from the initial reading. Government spending and business investment were revised up, but consumer spending was revised down slightly. October’s real consumer spending data showed that growth eased […]

The post The Weekly Bottom Line: Moving Toward Target appeared first on Action Forex.

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Weekly Economic & Financial Commentary: Inflation Takes Another Leg Lower

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02/08/2024

USDCAD Hits 8-Month High, But It’s Not a Victory Yet

USDCAD marks new higher high after disappointing ISM manufacturing PMI A close above 1.3880-1.3900 is needed to postpone profit-taking US nonfarm payrolls eagerly awaited at 12:30 GMT USDCAD began the month on a positive note, swiftly recovering from its recent setback and reaching an eight-month high of 1.3877, slightly above April’s peak of 1.3844. The […]
06/05/2024

EUR/USD Gains Momentum But Still Confined In Range

Key Highlights EUR/USD started a recovery wave above the 1.0650 resistance. It broke a major bearish trend line with resistance at 1.0720 on the 4-hour chart. GBP/USD rallied and tested the 1.2620 resistance zone. Oil prices extended losses and traded below the $78.80 support. EUR/USD Technical Analysis The Euro found support near 1.0600 against the […]
08/08/2024

Aussie Jumps as RBA Says Rates Could Rise

The Australian dollar has had a busy week and is showing strong gains on Thursday. In the European session, AUD/USD is trading at 0.6550, up 0.50% at the time of writing. RBA’s Bullock says rate hikes still on table Two days after the Reserve Bank of Australia held the cash rate, Governor Bullock reinforced her […]