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Retail sales rose by 0.6% month-on-month (m/m) in December, extending November’s 0.3% gain. This was higher than consensus forecast calling for an increase of 0.4%. Trade in the auto sector was up on the month rising by 1.1% m/m. This reflected an increase in sales at both motor vehicle dealers (up 1.2%) and automotive parts […]

The post U.S. Retail Sales Close 2023 on an Stellar Note  appeared first on Action Forex.

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Markets Scaled Back Expectations for March Fed Rate Cut to About 50%

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16/03/2024

The Weekly Bottom Line: Sticky Prices Could Delay Rate Cuts

U.S. Highlights February’s Consumer Price Index report showed that inflation came in higher-than-expected for a second consecutive month – a development which is likely to be on the Fed’s agenda at their two-day meeting next week. Spending in the retail sector disappointed expectations, despite some recovery from last month’s notable decline. With inflation top of […]
19/12/2023

EURJPY Retraces Higher as 200-day Holds Ground

EURJPY falls sharply but the 200-day SMA acts as a strong floor Repeated failure to violate the latter triggers an upward spike Momentum indicators improve, but remain in negative zones EURJPY had been experiencing a steep pullback from its recent 15-year peak of 164.28, which ceased at the crucial 200-day simple moving average (SMA). In today’s session, […]
20/12/2023

Euro Lower on German PPI Decline

German PPI eases to 7.9% German GfK Consumer Confidence index improves slightly The euro has dropped in Wednesday’s trade. In the European session, EUR/USD is trading at 1.0939, down 0.38%. German PPI declines by 7.9% Germany’s producer price index fell by 7.9% y/y in November, another sharp decline after the October reading of -11%. This […]