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Summary As expected, the Federal Open Market Committee left the federal funds rate target range unchanged at 5.25-5.50% at the conclusion of its meeting today. Yet the latest Summary of Economic Projections showed most participants continue to expect at least some reduction in the fed funds rate before the year is out. The median projection […]

The post June FOMC: Sitting, Waiting, Wishing appeared first on Action Forex.

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31/01/2024

USDCAD Rally Likely Fail in 3, 7, 11 Swing

Short Term Elliott Wave view in USDCAD suggests that rally to 1.354 ended wave (B). Pair has since turned lower in wave (C). However, confirmation is needed to validate this view and pair still needs to break below the previous low on 12.27.2023 at 1.3172. Down from wave (B), wave (i) ended at 1.3475 and […]
13/12/2023

Nasdaq 100: It’s All About Liquidity to Maintain Current Bullish Momentum

Nasdaq 100 recent bullish trend has moved in synch with a significant improvement in the net US liquidity since late October 2023. The major liquidity contributor has been a significant drawdown in the Fed’s overnight reverse repo facility that negates the adverse effects of Quantitative Tightening (QT). Watch the 16,160 key short-term support ahead of […]
01/08/2024

Market Reacts Mildly to Fed Decision, Focus Shifts to NonFarm Payrolls

Late July and early August are packed with significant macroeconomic events. This week has already seen rate decisions from the Bank of Japan and the Federal Reserve, with the Bank of England meeting today and the U.S. monthly labour market report due tomorrow. As the U.S. regulator left the rate unchanged at 5.50% yesterday, market […]