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China’s negative import growth in November suggests a sticky weak domestic demand environment. China and Hong Kong stock markets have failed to reignite bullish animal spirits despite the weakening trend seen in the US 10-year Treasury yield in the past month. Hang Seng Index now faces a potential major bearish breakdown that may retest the […]

The post Hang Seng Index Technical: Entrenched in a Downward Spiral appeared first on Action Forex.

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18/03/2024

EUR/USD Hits Support, Can It Bounce Back?

Key Highlights EUR/USD started a downside correction from the 1.0980 zone. A connecting bullish trend line is forming with support at 1.0885 on the 4-hour chart. GBP/USD slipped below the 1.2800 support zone and tested 1.2735. The Euro Zone CPI could increase 2.6% in Feb 2024 (YoY). EUR/USD Technical Analysis The Euro failed to continue […]
19/12/2023

NZ First Impressions: ANZ Business Confidence

Business confidence has continued to rise. However, there remains limited momentum in activity, and ongoing inflation pressures. Key results (December 2023) Business confidence: 33.2 (Prev: 30.8) Expectations for own trading activity: 29.3 (Prev: 26.3) Activity – same month one year ago -4.2 (Prev: -12.5) Inflation expectations: 4.61% (Prev: 4.79%) Pricing intentions: 50.2 (Prev: 46.8) The […]
07/06/2024

Canadian Dollar Eyes Can., US Job Data

The Canadian dollar has had a relatively quiet week and has ticked higher on Friday. In the European session, USD/CAD is trading at 1.3683, up 0.10%. We could see stronger movement from the pair in the North American session, when both the US and Canada release the May employment report. Canada’s job growth showed an […]