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We expect the Federal Reserve to cut rates by 25bp at the November meeting, which is nearly fully priced in by the markets at the time of writing. US October Jobs Report and Election Date pose significant risks to both sides of current rates outlook. We think the Fed is more likely to change its […]

The post Fed Preview: Navigating Uncertain Waters appeared first on Action Forex.

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Hiring Demand to Weigh on Canadian Jobs Data, U.S. Fed to Cut Again

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05/03/2024

Did Oil Find Its Way Up?

Oil is correcting 0.2% on Monday after closing almost 2% higher on Friday and peaking at 3.4%. WTI’s high of $80.3, last seen in November 2023, and a consolidation above $79 would indicate a break of long-term horizontal resistance, something the bulls have failed to do over the past four months. Friday’s rally allowed a […]
31/01/2024

Gold Develops Ascending Triangle in Near-Term

Gold struggles to surpass 2,037 and 200-period SMA RSI and MACD move horizontally Short-term outlook looks neutral-to-bullish Gold prices are flirting with the 2,037 resistance level and the 200-period simple moving average (SMA) in the 4-hour chart, creating an ascending triangle. Technically, the RSI is moving horizontally above the 50 level, while the MACD is […]
24/05/2024

Ethereum: Too Soon to Say Goodbye to $3000

Market picture The crypto market lost 2.9% in the last 24 hours, retreating to a market capitalisation of $2.5 trillion. The market came under pressure as active trading began in the US on a fresh batch of strong economic data. News of the approval of spot ETFs on Ethereum only added to the pressure. Ethereum’s […]