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Market picture Crypto market capitalisation rose 3.3% in 24 hours to $2.22 trillion. Local capitalisation bottomed near $2.10 trillion, confirming a sequence of declining local lows (2.3 in March, 2.25 in April) and highs (2.76 in mid-March, 2.67 in early April and 2.46 in late April). Ethereum and Solana are adding from the area of […]

The post Bitcoin’s Downtrend, Solana and Ethereum Form Double Bottom appeared first on Action Forex.

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23/05/2024

Fed Minutes Continue to Underscore Fed’s Data Dependent Approach

The minutes from the April 30-May 1, 2024 Federal Open Market Committee (FOMC) interest rate announcement acknowledged the recent lack of progress in curtailing inflation and continued to highlight the upside risks to the inflation outlook. Specifically, Committee members noted that, “the recent increases in inflation had been relatively broad based and therefore should not […]
05/07/2024

US: Payroll Gains Decelerate in June, While Unemployment Rate Ticks up to 4.1%

Non-farm employment increased by 206k in June, slightly above market expectations for a gain of 190k. However, job gains for the prior two months were revised materially lower by roughly 111k jobs. Private payrolls rose 136k, with most of the gains concentrated in health care & social assistance (+82.4k) and construction (+27k). In the household […]
22/02/2024

Crude Oil Price Fails Again at $78.80, Are Dips Supported?

Key Highlights Crude oil prices failed again to clear the $78.80 and $79.20 levels. It traded below a major bullish trend line with support at $77.65 on the 4-hour chart. Gold prices could gain bullish momentum above $2,032. The US Manufacturing PMI could remain stable at 50.5 in Feb 2024 (Preliminary). Crude Oil Price Technical […]