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In focus today In the US, focus will be on US October Jobs Report. We think non-farm payrolls growth slowed down to 130k (Sep: 254k) both due to weather-related distortions and less favourable seasonal adjustment. Average monthly earnings growth likely slowed down to 0.2% m/m s.a. and unemployment rate remained steady at 4.1%. Later, markets […]

The post It is time for NFP appeared first on Action Forex.

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RBA in Wait-and-See Mode Despite Drop in Inflation

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03/05/2024

Cliff Notes: Confidence Over Inflation Requires More Time

Key insights from the week that was. In Australia, partial updates on consumption came in on the softer side. Growth in nominal retail sales turned negative in March, down –0.4% (0.8%yr), the decline broad-based across sectors, with food retailing the only segment to record a gain. Downward revisions to prior months also weighed on Q1’s […]
04/04/2024

Sunset Market Commentary

Markets What a difference a revision makes… So often overlooked final figures of monthly (EMU) PMI broke headlines today. The euro area economy returned to growth for the first time since May 2023 after an upwardly adjusted composite PMI (50.3 from 49.9). Further growth expectations are the most optimistic since the start of the Russian […]
17/06/2024

USD/JPY: Bulls Hold Grip for Retest of Pivotal Fibo Barrier

USDJPY firmed further on Monday and partially offset warning from long upper shadow of Friday’s daily candle, as fresh strength looks for retest of pivotal Fibo resistance at 158.22 (76.4% of 160.19/151.85) which capped Friday’s rally. Firm break here to open way towards targets at 160.00/19 (psychological/2024 high, posted on Apr 29). Technical picture on […]