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Markets It’s been a rollercoaster ride for US Treasuries so far this week. (Easter) Monday’s consensus-beating, growth-signaling, manufacturing ISM triggered a fierce sell-off. The move continued on Tuesday with rallying oil prices (Brent $90/b; see news & views) continuously adding pressure. Technical support levels (YTD sell-off low) avoided even steeper losses on Tuesday together with […]

The post ISM-Inspired Treasury Gains Went Hand-in-hand With Profit Taking on USD Long appeared first on Action Forex.

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01/12/2023

Disinflation Continues in Euro Area

Market movers today The most important data release of the day will the November ISM Manufacturing index from the US. Consensus expects a modest rebound, as several other leading indicators for global manufacturing have shown signs of bottoming out lately, even if the US Flash PMI still ticked lower in November. Manufacturing PMIs are due […]
07/12/2023

EURGBP Moves Sideways After Significant Plunge

EURGBP fails to extend negative structure 20- and 200-SMAs post death cross EURGBP is stubbornly fighting the nearby 0.8555 support level for the fifth consecutive trading day, after the strong sell-off from the 0.8765 resistance. The pair is holding well below the penetrated uptrend line and the 20- and the 200-day simple moving averages (SMAs) […]
24/08/2024

Canadian Q2 GDP Report to Reveal More Softness in the Economy

Canada’s GDP report next week is expected to show further weakening in the Canadian economy. We expect a 1.4% (annualized rate) increase in GDP in Q2 – below Statistics Canada’s 2% preliminary estimate a month ago, and marking the 7th of the last 8 quarters of declining output on a per-capita basis. Growth in GDP […]