Logo-color Logo-white

Key Highlights Crude oil prices started a strong recovery wave above the $75.00 resistance zone. There was a break above a key bearish trend line with resistance at $74.90 on the 4-hour chart. Bitcoin surged above $67,500 before trimming most gains. GBP/USD rallied to a new multi-week high and traded above 1.2800. Crude Oil Price […]

The post Oil Prices Recovers Sharply, Fed Holds Rates Steady appeared first on Action Forex.

previous

June FOMC: Sitting, Waiting, Wishing

next

US CPI Lower Than Expected, While FOMC Signals Only One Rate Cut in 2024

Read More

17/08/2024

Week Ahead – Jackson Hole and PMIs Enter the Spotlight

As recession fears ease, investors lock gaze on Jackson Hole Eurozone and UK PMIs to affect ECB and BoE expectations Canadian inflation could back third consecutive BoC cut Japan’s Nationwide CPI data also on the agenda Jackson Hole to test overly dovish Fed cut bets Following the unjustified panic triggered by the weaker-than-expected NFP report […]
02/08/2024

US: Job Market Continued to Cool in July, Markets Up Ante on Rate Cuts

Non-farm employment rose by 114k in July, considerably below the consensus forecast calling for a larger gain of 175k. Job gains in the two prior months were revised a bit lower, subtracting a combined 29k from the previously reported figures. Private payrolls rose 97k, with most of the gains concentrated in health care & social […]
07/02/2024

A Tug of War Between Hawks and Doves

The selloff in US sovereign bonds reversed yesterday after a solid demand for the US 3-year bond auction counterweighed a bulk of hawkish comments from Federal Reserve (Fed) members. The Fed members are on the battlefield, fighting the doves. Loretta Mester said there is no rush to cut rates and Neel Kashkari said that the […]