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The Fed made no changes to its monetary policy in the March meeting, as widely expected. Updated rate projections still signal three rate cuts this year, but 2025, 2026 and longer-term ‘dots’ we revised slightly higher. While Powell did not specify the timing, he suggested that the Fed is soon looking to slow down the […]

The post Fed Review: Not as High, But for Even Longer? appeared first on Action Forex.

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12/12/2023

Dollar Index in a Corrective Wave (4) Rally – Technical Resistance at 104.50

It’s an important day for the markets with the US CPI release and expectation of 3.1% down from 3.2%, so dollar and us yields can be volatile today on speculations regarding further policy rate decisions from the FED tomorrow. From an Elliott wave perspective, the DXY is still seen in a corrective phase so I […]
15/04/2024

U.S. Retail Sales Rebound in February

Retail sales rose by 0.7% month-on-month (m/m) in March, adding to February’s upwardly revised 0.9 % gain (previously 0.6%). The increase was higher than the consensus forecast calling for a more modest increase of 0.4% Trade in the auto sector was down -0.7% m/m, reflecting a decline at motor vehicle dealers (-0.9%), which was only […]
04/06/2024

Oil Probably Setting Up for a Repeat of 2020 or 2014

In the middle of last week, WTI crude bounced off resistance in the form of the 200-day moving average and moved closer towards the lower end of the May trading range. Oil is also trading below its 50-day average, which is pointing downwards. All of this is evidence of an intensifying bearish medium and long-term […]