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Key insights from the week that was. While the RBA’s decision to leave the cash rate unchanged at 4.35% was widely anticipated, there were noteworthy shifts in language in the decision statement. Most poignant was the removal of the “not ruling anything in or out” guidance that stood in place for the much of this […]

The post Cliff Notes: The Detail Matters appeared first on Action Forex.

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04/09/2024

Nasdaq 100: Torpedoed by Nvidia and May See Further Weakness

Major US bench stock indices (S&P 500, Nasdaq 100, Dow Jones Industrial Average & Russell 2000) started the month of September on a weak footing. The Nasdaq 100 was the worst performer (-3.15%) on Tuesday, 3 September dragged down by the higher-beta technology sector (Nvidia & other semiconductor stocks) Recent weak performance of Nvidia (ex-post […]
03/07/2024

Cable Ready to Correct Deeper Going into UK Elections

Cable is turning south for the last few weeks, as price stopped at the trendline connected from 2023 high so we certainly should not be surprised by current retracement. Break below the channel support also confirms a corrective phase for the pound, against the previous five wave rise, especially after latest UK CPI figures and […]
20/06/2024

Decision Day Will Bring Three Important Policy Announcements on Top of China’s

Appetite in Europe was weak yesterday in the absence of American markets. The French CAC40 remained firmly offered near its 200-DMA and fell 0.77%, the European Stoxx 600 index retreated 0.17%, and the Swiss SMI consolidated above the 12’000 mark while the FTSE 100 took out the 50-DMA and closed slightly higher at yesterday’s trading […]