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China’s credit impulse has remained on a slow upward trajectory since July 2023. Key China’s central bank (PBoC) official has signalled a further accommodating monetary policy in 2024. Growth in China’s services activities expanded in December 2023. Watch the 16,100 key long-term secular support on the Hang Seng Index. China and Hong Kong stock markets […]

The post Easing Liquidity Conditions May Provide Interim Support for China and Hong Kong Stock Markets appeared first on Action Forex.

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11/06/2024

Macron Calling for French Snap Election Shakes Markets

In focus today In the US, NFIB’s small business optimism index is due for release for May. General sentiment has remained weak over the past few months, and also firms’ price plans took a turn lower in the April survey. In the UK, focus turns to the release of the official UK labour market report. […]
07/05/2024

RBA on Gold and Remains Vigilant to the Upside

Rates unchanged as expected, as Board balances near-term inflation risks with desire to avoid recession. As expected, the RBA Board left the cash rate target unchanged at 4.35% following its May meeting but strengthened its rhetoric around upside inflation risks. The statement highlighted that inflation is declining, but more slowly than expected. Services inflation is […]
08/07/2024

EUR/USD Recovers and Bulls Are Not Done Yet

Key Highlights EUR/USD recovered above the 1.0800 resistance zone. A key bullish trend line is forming with support at 1.0790 on the 4-hour chart. GBP/USD climbed above the 1.2750 and 1.2800 resistance levels. Gold prices surged above the $2,380 resistance zone. EUR/USD Technical Analysis The Euro formed a base above the 1.0670 level against the […]