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GameStop rallied nearly 90% after Keith Gill, aka Roaring Kitty on Twitter, posted a screenshot on Reddit showing a big stake in option positions (about 120’000 call options that would give him the right to buy 12 mio GameStop shares for $20 each before June 21st). The holdings are unverified and no one knows if […]

The post Meme Stocks Rally, Oil Tanks appeared first on Action Forex.

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07/05/2024

Pound Shrugs as Construction PMI Jumps

The British pound is slightly lower on Tuesday. GBP/USD is down 0.21%, trading at 1.2535 in the European session at the time of writing. The UK construction PMI jumped to 53.0 in April, up from 50.2 in March and above the forecast of 50.4. This is only the second reading showing growth after six straight […]
04/01/2024

New Vigor on Bond Market Curtailed Dollar’s Momentum

Markets The US eco calendar provided first meaningful input for 2024 trading yesterday. Data strengthened the goldilocks scenario of growth stabilizing at a low, but no recessionary, level in combination with a labour market turning less tight and an ongoing disinflationary process. The manufacturing ISM recovered marginally more than expected (47.4 from 46.7), but remains […]
08/12/2023

NIKKEI Analysis: Japanese Stock Market Outlook

In the first half of 2023, the Japanese stock market was dominated by bullish sentiment due to (still) negative interest rates — while the rest of the G7 countries raised their rates to combat inflation. The NIKKEI-225 index grew by 30% in the first half of the year. But then the balance of supply and […]