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Summary Manufacturing activity remained in contraction territory in June, but in a sign of moderating inflation pressure, the prices paid component fell 4.9 points. New orders rose more than any other component but remains in contraction. Prices Cool The ISM manufacturing index slipped to 48.5 in May as tight credit conditions and elevated borrowing costs […]

The post June ISM: Activity Still Soft, but Prices Cooling appeared first on Action Forex.

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02/08/2024

July Employment: That Was Sahm Jobs Reports

Summary The ongoing deterioration in the jobs market was on full display in the July Employment report. Nonfarm payrolls posted the second smallest gain in 3.5 years with an increase of 114K, average hourly earnings growth eased to 3.6% year-over-year and the unemployment rate jumped to 4.3% from 4.1% in June. The landfall of Hurricane […]
18/04/2024

WTI: Oil Prices Fall Further on Rising Demand Concerns

WTI oil price dips further in early Thursday, in extension of previous day’s 3% drop (the second biggest daily loss in 2024) and hit new three-week low. Stronger than expected rise in US crude inventories (EIA report) further raised concerns about oil demand, while fears about escalation of the conflict in the Middle East faded, […]
19/04/2024

USD/JPY Stages More Upsides, Can Bulls Aim For 160?

Key Highlights USD/JPY extended gains above the 154.00 level. A major bullish trend line is forming with support at 153.95 on the 4-hour chart. EUR/USD is struggling to recover above 1.0720. Crude oil prices declined below the $83.50 support zone. USD/JPY Technical Analysis The US Dollar settled above the 150.00 level to move further into […]