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Markets The goldilocks outcome of January University on Michigan consumer confidence ended a week of weakness in US Treasuries (and core bonds in general). The headline figure unexpectedly jumped from 69.7 to 78.8 (vs 70.1 expected; highest level since July 2021), backed by both better current conditions and a more rosy view for the next […]

The post Focus Shifts to First Major Central Bank Gatherings of the Year appeared first on Action Forex.

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28/06/2024

Canada’s Economy Rebounded in April, Modest Growth Expected in May

The Canadian economy bounced back in April, up 0.3% month-on-month (m/m). This print landed in line with Statistics Canada’s advanced guidance and market expectations. The flash estimate for May points to a slight advance of 0.1% m/m. April’s reading was broad-based, with output expanding in 15 of 20 industries. The gain was evenly split between […]
11/06/2024

Gold Wave Analysis

Gold reversed from support level 2300.00  Likely to rise to resistance 2385.00 Gold recently reversed up from the pivotal support level 2300.00 (which stopped the previous waves A, (4) and ii, as can be seen below). The support level 2300.00 was strengthened by the lower daily Bollinger Band and by the 50% Fibonacci correction of […]
19/01/2024

Sunset Market Commentary

Markets Markets received another dose of realism in the form of solid US economic data. US December housing data came in on the strong side of expectations. Building permits, seen as a leading indicator for the sector, rose by 1.9% m/m (1495k) vs 0.7% expected. Shovel-in-the-ground housing starts, the next step in the process, declined […]