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The US 500 index flirts with its 2022 record high Lacks momentum, but its trend remains positive above 4,660 The US 500 stock index (cash) recovered its latest pullback, rising swiftly back above its 20-day exponential moving average (EMA) and closer to its record high of 4,817 registered in January 2022. There is some skepticism […]

The post Will US 500 Index Sail to Record Highs? appeared first on Action Forex.

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Euro Drifting Ahead of German CPI

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21/06/2024

Focus Turns to June PMIs After Central Bank Bonanza

In focus today After yesterday’s hawkish surprise from Norges Bank, we revise our call for the first rate cut to come in March 2025 rather than September this year, see more below. This morning at 8.00 CET we get UK retail sales for May and later in the day June PMIs where consensus is for […]
27/01/2024

Bank of England Preview – Topside Risk to EUR/GBP as BoE Removes Tightening Bias

We expect the Bank of England (BoE) to keep the Bank Rate unchanged at 5.25% on 1 February, which is in line with consensus and current market pricing. Overall, we expect the MPC to deliver a dovish tilt to its guidance coupled with a downward revision to its inflation forecast. We expect EUR/GBP to move […]
21/03/2024

GBPUSD Trims FOMC Rally Amid a Busy Day

GBPUSD corrects lower after hitting resistance at 1.2800 Technical signals weaken, but key support levels are underneath GBPUSD rose exponentially in the aftermath of the FOMC policy meeting, but the ascending line drawn from the December 2023 low interrupted the rally near the 1.2800 level and forced a new bearish move on Thursday before the […]