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Markets China’s stimulus announcement impacted all corners of the market. Hopes for a revival of the 2nd largest economy lifted commodity prices. Oil & iron prices both added around 2%. Equities rose with Europe’s EuroStoxx50 adding 1.1%. Wall Street had to digest an unexpected and sharp drop in the Richmond manufacturing index & US consumer […]

The post China-Sparked Asian Bull Run Continues This Morning appeared first on Action Forex.

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15/05/2024

Sunset Market Commentary

Markets Counting down to the key US CPI release, markets clearly positioned for an outcome that kept the door open for a Fed rate cut post summer holidays. US yields already declined about 2.0-3.5 bps in the run-up to the data release. US inflation indeed printed on the softer side of expectations. Headline inflation eased […]
15/02/2024

Technical Outlook and Review

DXY: The DXY chart currently indicates a bearish momentum, suggesting a potential continuation of the downward trend. The 1st support level is situated at 104.52, identified as a pullback support. This level corresponds to the 38.20% Fibonacci Retracement, adding to its significance as a potential area where buying interest could emerge. Additionally, the 2nd support […]
17/06/2024

USDCNH Hits the Ceiling

China’s housing price decline is gaining momentum. New home prices for May fell 0.71% vs. 0.58% and 0.34% in the previous two months. The year-over-year decline increased to 3.9%, with back-to-back slides over the 12 months. China has repeatedly announced measures to support the property market, but they have been limited, failing to reverse the […]