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Market sentiment was once again very different on both sides of the Atlantic. The European markets remained under the pressure of tense political environment in France and a 3% slump in April manufacturing production across the Eurozone. The CAC40 dropped 2%, the Stoxx 600 fell 1.30%, the EU bonds were sold off, as well, after […]

The post A Growing Divergence appeared first on Action Forex.

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13/06/2024

EUR/USD: Remains Constructive Despite More Hawkish Than Expected Powell

EURUSD is consolidating within a narrow range on Thursday morning, following strong rally on Wednesday (up 0.65%), but remains constructive despite Wednesday’s upside rejection and a bull-trap above converged 10/20DMA’s. The single currency rallied on weaker than expected US May CPI numbers, though the sentiment was cooled by more hawkish than expected remarks from Fed […]
11/12/2023

USD/JPY: Extends Advance on Fresh Dovish Comments from BoJ

Bounce from last Thursday’s multi-month low and a bear-trap, extends into second consecutive day and accelerates on Monday. The dollar benefited from stronger than expected US jobs data in November, which shifted the view about rate cuts in 2024, while BoJ softened the narrative about start of tightening its ultra-loose policy, by comments that there […]
22/07/2024

Sunset Market Commentary

Markets Biden’s dropout from the presidential race grabbed most of the headlines today, if only because there was basically no other news to report. He and many other Democrats have endorsed the current runner-up Kamala Harris as the new nominee. What that means for the eventual election outcome and policy is unclear at this stage. […]