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Markets It was all about the March US manufacturing ISM yesterday. The ISM unexpectedly returned above the boom/bust-mark (50) for the first time since September 2022! The increase from 47.8 to 50.3 (vs 48.3 expected) came on account of higher production (54.6 from 48.4), rising new orders (51.4 from 49.2), a smaller contraction in inventories […]

The post Fed Unlikely to Lower Policy Rate Ahead of September appeared first on Action Forex.

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11/07/2024

June CPI: September Rate Cut Incoming

Summary This morning’s CPI report was arguably the most encouraging one the FOMC has received since it began its inflation fight nearly two and a half years ago. Consumer prices declined by 0.1%, led lower by a drop in energy prices and a modest increase in food prices. Excluding food and energy, the core CPI […]
26/01/2024

WTI Oil Futures Challenge 61.8% Fibo

WTI futures break above crucial trendline and 50-day SMA Next target is the 61.8% Fibo, which held strong in January Momentum indicators tilt to the positive side WTI oil futures (March delivery) had been on the retreat since their September peak of 95.02, breaking below consecutive support zones. Although the price managed to halt its retreat […]
17/06/2024

Gold Attempts to Erase Latest Slump

Gold falls to its lowest level in a month But recovers some ground, eyeing 50-day SMA Oscillators improve but remain negatively tilted Gold has been experiencing a pullback from its all-time high of 2,450, breaking below the 50-day simple moving average (SMA). Although the price posted a fresh one-month low on June 7, it has been in […]