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Markets All eyes are on Wednesday’s US CPI inflation print and to a lesser extent its PPI precursor tomorrow. That led to stoic, listless trading at the start of the new week. China announced during early Asian dealings that it will kick off its CNY 1tn stimulus plan on Friday with a CNY 40bn 30-yr […]

The post Sunset Market Commentary appeared first on Action Forex.

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29/05/2024

WTI Oil: On Track for a Potential Recovery After 2-month of 12% Decline

Recent additional stimulus measures from China, a reduction in elevated net long positioning from large futures speculators & an uptick in geopolitical risk premium may support higher oil prices. Watch the key medium-term support of US$78.40/US$76.60 on WTI crude oil. A break above US$81.70 may trigger a multi-week bullish impulsive upmove in WTI crude oil. […]
05/09/2024

USD/JPY: Falls to One Month Low as Sentiment Sours Further Ahead

USDJPY continues to trend lower and hit new one-month low on Thursday, pressured by expectations of Fed rate cut, diverging policies of Fed and BoJ (US central bank is heading towards its first rate cut, while BoJ started its tightening cycle and with hawkish signals from top officials). In addition, weak US labor data (today’s […]
04/06/2024

WTI Wave Analysis

WTI broke key support level 76.70 Likely to fall to support level 72.00 WTI crude oil recently broke the key support level 76.70 (which has been steadily reversing the price from the middle of February). The breakout of the support level 76.70 coincided with the breakout of the 61.8% Fibonacci correction of the previous upward […]