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Real GDP expanded by 3.3% quarter-over-quarter (q/q, annualized) in the fourth quarter of 2023 – well ahead of the consensus forecast calling for a more modest gain of 2%. For the year, real GDP grew by an impressive 2.5%. Consumer spending remained hot, rising 2.8% – a very modest deceleration from the 3.1% gain recorded […]

The post US: Economic Resilience Remains on Full Display in Q4 GDP Data  appeared first on Action Forex.

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07/12/2023

Scream Correction

US crude plummeted 4% yesterday and sank below the $70pb mark and Brent slipped below $75pb. Momentum traders and falling volumes worsened crude’s recent plunge while OPEC’s latest announcement of output cuts and Saudi’s additional threats that they will extend their solo cut beyond Q1 went totally unheard. Worse, as the bears saw that investors […]
13/02/2024

GBP/USD: Limited Recovery Warns of Prolonged Sideways Mode

Cable ticked higher and hit new highest since Feb 2 in early Monday but was so far unable to sustain gains, keeping the price within congestion which extends into fourth straight day. A double Doji (Fri/Thu) signal indecision as daily studies are mixed and keep near-term price action between 200DMA (1.2564) and falling 10DMA (1.2638). […]
25/03/2024

Canada’s January GDP to Edge Higher on Recovery from Quebec Strike

Canadian gross domestic product for January is expected to show modest growth on Thursday, while employment data will highlight whether weakness in job vacancies and wage growth still persists ahead of the Easter long weekend. We expect the Canadian economy to edge up 0.2% after a flat reading in December—and below the 0.4% increase forecasted […]