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In focus today It is rate review day for several central banks, as we look to both the Swiss National Bank (SNB, 9.30 CET), Norges Bank (10.00 CET), and Bank of England (BoE, 13.00 CET) to publish their decisions. We believe that inflation within the target rate (and below the SNB’s forecast), a strong CHF, […]

The post Busy Day With Rate Reviews and PMI Pulse Check appeared first on Action Forex.

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04/01/2024

Sunset Market Commentary

MarketsRegional inflation figures for North Rhine Westphalia wrongfooted investors at the very onset of today’s trading session. Prices fell by 0.1% M/M in Germany’s most populous state with the Y/Y-figure rising from 3% to 3.5%. That was less than what markets expected for the national German reading which was only published during afternoon. The Bund […]
09/07/2024

S&P 500 (SPX) Bullish Elliott Wave Sequence Remains in Play

Short Term Elliott Wave View in S&P 500 (SPX) suggests that cycle from 4.20.2024 low is in progress as a 5 waves impulse. Up from 4.20.2024 low, wave 1 ended at 5325.49 and pullback in wave 2 ended in a zigzag structure. Down from wave 1, wave ((a)) ended at 5256.93 and wave ((b)) ended […]
15/08/2024

U.S. retail sales starts third quarter on an upbeat note 

Retail sales rose 1.0% for the month of July. That was much higher than the consensus forecast calling for a more moderate increase of 0.4%. However, June’s figure was revised downward to -0.2% month/month (previously flat). Trade in the auto sector was up 3.6% m/m, as the increase at motor vehicle dealers (4.0%) was partially […]