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French election: Will the far-right win a majority? French voters will head to the polls on Sunday, July 7 for round two of the parliamentary elections. In the first round, Mary Le Pen’s far-right National Rally party (RN) made big gains and won 33% of the vote. President Macron’s Ensemble alliance was relegated to third […]

The post Historic French Vote Could Propel Le Pen to Power appeared first on Action Forex.

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06/03/2024

EURUSD Holds in Tight Range Within SMAs

EURUSD remains above downtrend line RSI and MACD look weak EURUSD has been developing within a narrow range of the 20- and the 50-day simple moving averages (SMAs) of 1.0805 to 1.0860 respectively. The pair is still standing above the short-term downtrend line and the 200-day SMA, confirming the broader bullish outlook. Technically, the RSI […]
24/07/2024

Sunset Market Commentary

Markets Monthly PMI’s were the headline story on global markets. EMU surveys at least were no happy reading. The composite EMU HCOB PMI declined from 50.9 to 50.1 suggesting an near standstill in activity. The decline was mainly driven by a deepening contraction in German manufacturing (42.6). France also stays in sub-50 territory (composite 49.5), […]
24/05/2024

Euro Area and US PMIs Surprise to the Upside

In focus today From the US, April durable goods orders and revised May Michigan consumer sentiment survey are due for release. The flash release showed consumers’ inflation expectations ticking notably higher, but the recent decline in retail gasoline prices could mean that expected inflation has also moved lower. The Fed’s Waller (voter) will be on […]