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Markets Horrible European PMI business confidence (September) triggered a textbook bull steepening. German rates dropped between -2.8 (30-yr) and -8.1 (2-yr) bps. The spread between the 10-yr and 2-yr hit a milestone by turning positive for the first time since November 2022. Swaps did so already last Friday. Front-end outperformance rooted from increased ECB easing […]

The post On Lookout Whether Yesterday’s Sharp European Yield Drop May Ease appeared first on Action Forex.

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17/07/2024

Cable Jumps as UK CPI Shows Stagnation

The S&P500 hit a fresh record this year for the 38th time on Tuesday, banks rallied on earnings which showed that the big banks’ trading revenue jumped nearly 20% in Q2 and investment banking revenues rose significantly on increased dealmaking. The technology-heavy Nasdaq 100 lagged, with smaller gains. The Russell 2000 rallied another 3.5%, on […]
03/01/2024

Loonie Plunges Ahead of Canadian Jobs Number

Canada’s economy likely added fewer jobs in December Local dollar shows some weakness ahead of Friday’s data due at 13:30 GMT Unemployment rate to rise furhter According to market forecasts, the unemployment rate in Canada increased to 5.8% in November 2023, higher than the 5.7% figure that was recorded in the previous month. The rate reached […]
20/03/2024

Bitcoin Price Drops Below $65K, Fed Rate Decision Next

Key Highlights Bitcoin price started a downside correction below $70,000 and $68,000. A key bearish trend line is forming with resistance at $65,800 on the 4-hour chart. USD/JPY rallied following the Bank of Japan’s (BoJ) first historic interest rate hike. EUR/USD and GBP/USD also saw bearish moves. Bitcoin Price Technical Analysis Bitcoin price started a […]