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China and Hong Kong benchmark stock indices have almost erased last week’s gains. NBS Non-Manufacturing PMI sub-components for January are indicating feeble service activities in China. A weaker US dollar via a dovish forward monetary policy guidance from the Fed is not enough to act as a bullish catalyst for China and Hong stock markets. […]

The post A Dovish Fed Guidance May Not Reverse the Rout in China and Hong Kong Stock Markets appeared first on Action Forex.

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ISM Shows Contraction in U.S. Manufacturing Sector Slowed in January

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05/03/2024

Hang Seng Index Technical: Countertrend Rebound Phase May Have Ended

Lacklustre movement was seen in China & Hong Kong benchmark stock indices today after the release of China Premier Li Qiang’s economic work report during the second day of the “Two Sessions”. Premier Li Qiang has officially announced China’s 2024 GDP growth target of around 5% (within consensus) and stuck to the same rhetoric of […]
24/06/2024

Australian Dollar Calm Ahead of Consumer Confidence

The Australian dollar has started the week quietly. AUD/USD is trading at 0.6648 early in the North American session, up 0.11% on the day. Australia releases Westpac Consumer Sentiment early on Tuesday. Consumer confidence has been weak and fell 0.3% in May to 82.4, following a 2.4% decline in April. Consumers have been pessimistic about […]
09/09/2024

More Volatility: Yes. More Certainty on Fed: No

Markets More volatility: yes. More certainty on the outcome of next week’s Fed meeting: no. Friday’s nonfarm payrolls couldn’t settle the rate cut size debate (25 bps vs 50 bps). The forecasted decline in the US unemployment rate, from 4.3% to 4.2%, failed to break the real-time recession indicator (Sahm rule) that rang all the […]