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GBPUSD hits a new two-month low as Trump wins White House Short-term outlook remains bearish; focus on 200-SMA for potential support Bank of England, Fed announce their rate decisions today GBPUSD took a sharp dive to a two-month low of 1.2833 on Tuesday as the return of Trumponomics gave fresh impetus to the greenback. On Wednesday, […]

The post GBPUSD in the Red for Six Weeks appeared first on Action Forex.

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27/09/2024

Saudi Throws in the Towel

The S&P 500 printed its 42nd record high this year yesterday on the back of a mix bag of economic and corporate news. First, the latest GDP data confirmed that the US economy grew 3% in Q2 and the price pressures fell. Corporate profits rose 3.5% in Q2 versus a 1.7% gain penciled in by […]
14/03/2024

Sunset Market Commentary

Markets: The ECB released a statement on the changes to the operational framework for implementing monetary policy. In the new framework (cf infra), the ECB will provide liquidity through a mix of instruments including the main refinancing operations (MRO’s), new structural longer-term refinancing operations and a structural portfolio of securities. However, the deposit rate facility […]
14/10/2024

Earnings Season Kicks Off Strong, Oil Markets on Edge

China didn’t pull out the fiscal bazooka on Saturday, but said that there will be a significant bond issuance to help reverse the deepening property crisis and local governments. Israel didn’t attack Iran but some reports hinted that the Israeli army could be narrowing their targets on military and energy infrastructure. As such, crude oil […]