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In focus today This week starts rather quietly on the data release front. The only event in our calendar is Fed’s Waller (voting member) speaking this afternoon. The Democratic National Convention kicks off today, and Kamala Harris is expected to be elected as the democratic presidential candidate later in the week. Early Tuesday, China will […]

The post Markets Await Powell’s Jackson Hole Speech Later This Week appeared first on Action Forex.

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25/07/2024

A Bad Day for Tech Stocks

Underwhelming results from Tesla and Alphabet painted the equity markets in the red yesterday. The S&P500 experienced its worst selloff since December 2022 with a 2.30% drop. It tested its 50-DMA (near 5428) to the downside. Nasdaq 100 tumbled 3.65% and sank below its own 50-DMA. Tesla dived more than 12% on earnings miss and […]
06/08/2024

NZD/USD Sees Recovery After Hitting Nine-Month Low

The NZD/USD pair has shown signs of recovery, reaching 0.5941 after initially plunging to a nine-month low. This downturn was triggered by concerns over a potential US recession, driven by weak job sector data, which rattled global financial markets. As risk aversion spiked, the New Zealand dollar and other currencies declined steeply. This market turmoil […]
26/04/2024

US National Account Figures Spook Markets, Bank of Japan Stays Put

In focus today In the US, today’s main data focus will be on the March PCE. Consensus expects both headline and core PCE inflation to remain steady at 0.3% m/m after mixed signals from March CPI and PPI reports. After yesterday’s GDP release, we got the quarterly PCE print as well, showing increased price pressures […]