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The dollar index accelerated higher on Wednesday, following much stronger than expected US services PMI data (May 53.8 vs 51.0 f/c and Apr 49.4) which signaled that services sector returned to growth (May figure hit the highest in nine months) and offset negative signals from downbeat labor reports (JOLTS and ADP). Fresh advance cracked strong […]

The post DXY: Upbeat US Services PMI Data Provide Fresh Support to Greenback appeared first on Action Forex.

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07/02/2024

NZ First Impressions: Labour market statistics, Q4 2023

The December quarter labour market surveys surprised modestly to the upside, suggesting that activity and inflation pressures are still easing, but perhaps not as quickly as the RBNZ would have hoped. Unemployment rate: 4.0% (prev: 3.9%, Westpac f/c: 4.2%, RBNZ f/c 4.2%) Employment change (quarterly): +0.4% (prev: -0.2%, Westpac f/c: +0.3%, RBNZ f/c +0.2%) Labour […]
19/07/2024

GBPJPY Retraces Lower After Hitting 16-year High

GBPJPY pulls back from its highest level since August 2008 RSI and MACD ease but remain in positive territories GBPJPY has been in a prolonged uptrend since early 2024, posting a 16-year high of 208.10 on July 11. However, the pair has been undergoing a pullback since then probably due to the advance reaching overbought conditions. Should the […]
04/12/2023

Gold Advanced to 2072.22

Markets The November yield correction found an easy way in at the start of the final month of the year through a disappointing US manufacturing ISM. The headline figure stabilized at 46.7 instead of improving to an expected 47.8. New orders fell though less rapidly (48.3 vs 45.5) while employment dropped to 45.8. Actual output […]