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On Wednesday, the EURUSD pair remained steady around 1.0820, confined within a narrow range as the US Dollar continued its subdued trend. Federal Reserve Chairman Jerome Powell’s testimony before Congress did little to provide clear market direction, despite his return to a hawkish stance on monetary policy. Market participants remain uncertain, as US economic indicators—growth, […]

The post EURUSD: Bearish Delivery For CPI? appeared first on Action Forex.

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10/09/2024

The Debate

The European and US indices rebounded on Monday, though the rebound was probably not based on high conviction, but looked more like the correction of last week’s decent selloff. The European Stoxx 600 rebounded to flirt with the 50-DMA resistance, but the investor confidence index unexpectedly worsened in September, the British FTSE 100 recorded the […]
14/03/2024

WTI Oil Futures Fight With 80.80 Bar

WTI crude rebounds off 200-day SMA Remains in an uptrend in the short-term WTI oil futures are finding a strong support level near the 200-day simple moving average (SMA) at 78.00 and are also struggling to jump beyond the 80.80 resistance. The price has been in an uptrend since mid-December with the technical oscillators suggesting a neutral to bullish bias. The RSI […]
22/06/2024

Weekly Economic & Financial Commentary: Global Central Bank Decisions Galore

Summary United States: Economic Data More Rice & Beans than Steak & Eggs Markets chewed on an array of economic data this week, and what was served was mostly gristle. A weak retail sales print suggests that consumers may finally be feeling some spending fatigue. Markets also received a three-course housing market update which painted […]