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Lack of concrete fiscal stimulus measures ex-post China NPC Standing Committee meeting. Deflationary and liquidity trap risks are now back in the forefront that may trigger a medium-term negative feedback loop into the Hong Kong & China stocks. Watch the 19,700 key support on the Hang Seng Index. Since hitting a 52-week high of 23,242 […]

The post Hang Seng Index: Medium-Term Bullish Trend in Jeopardy After China Stimulus Disappoints appeared first on Action Forex.

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04/09/2024

AUD/USD Steady Despite Weak GDP

The Australian dollar is drifting on Wednesday. AUD/USD is trading at 0.6704 in the European session, down 0.10% today at the time of writing. The Australian dollar took a bath a day earlier, sliding 1.1%, one of the sharpest daily declines this year. Australia’s GDP dips to 0.2% Australia’s economy gained a paltry 0.2% q/q […]
15/01/2024

Bitcoin Tests the Strength of an Uptrend

Market picture Last week saw the launch of 11 spot bitcoin ETFs in the US. On Thursday, the first day of trading, the total volume traded in these ETFs was $4.6 billion, and the price of bitcoin reached a multi-month high near $49000. The “sell the facts” pattern was already evident on Friday and continued […]
30/01/2024

JP 225 Stock Index Eyes 161.8% Fibo After Pullback from 34-year High

Japan’s benchmark index attempts to regain positive footing 37,000 level is still in sight But bullish momentum may not be strong enough The Japan 225 stock market index (cash) edged up on Monday, heading towards the 161.8% Fibonacci extension of the June-October 2023 downtrend at 36,247. Overcoming this barrier is crucial to being able to […]