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The Dollar Index is in a sideways mode on Friday morning after Thursday’s drop almost fully reversed post-election rally on Wednesday. Near-term action ranging above the base of thick hourly Ichimoku cloud and expected to remain constructive above trendline support (103.72) and 200DMA (103.64). The dollar stabilizes after volatile conditions from release of US election […]

The post Dollar Index Outlook: Markets Digest News from US Election /Fed Policy Outlook appeared first on Action Forex.

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10/06/2024

US Indices: Something for Optimists

The US indices, S&P500 and Nasdaq100, closed Wednesday at record highs, taking a decisive step up, adding over 1.1% and 2%, respectively. The Dow Jones index lagged, adding just 0.25% for the day and is 3% off all-time highs. The Nasdaq-100 and S&P500 defended tops on Thursday, which seems more like a rest before rising […]
05/01/2024

It’s Payrolls Day

In focus today The first week of January will be concluded with the December Jobs Report at 14:30 CET, and ISM services index at 16:00 CET. Recent data (Claims/ADP/JOLTs) has generally supported the narrative of robust US labour market conditions in December, and we forecast non-farm payrolls at +170k and average hourly earnings growth at […]
20/01/2024

USDCAD Stuck Between Converging SMAs

USDCAD extends its rebound to a fresh 1-month high But does not manage to close above the 50-day SMA Momentum indicators turn positive USDCAD had been staging a solid recovery from its December low of 1.3176, but the 50-day simple moving average (SMA) prevented further gains. Despite the rejection, the 200-day SMA has been acting as a […]