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In focus today From the US, the ISM Services index is due for release for January. The December data pointed towards weakening growth momentum, but the latest signals from flash PMIs have been more optimistic. In the euro area, we receive the February Sentix investor confidence indicator as well as December PPI data. In Sweden, […]

The post Powell Interview Adds to Strong Jobs Data Driving Yields Higher appeared first on Action Forex.

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11/07/2024

US: Inflationary Pressures Cool Faster than Expected in June, Bolstering Case for September Rate Cut

The Consumer Price Index (CPI) fell 0.1% month-on-month (m/m), below the consensus forecast calling for a modest 0.1% gain. On a twelve-month basis, CPI edged lower by 0.3 percentage points to 3.0%. Lower energy prices – largely attributed to a 3.7% decline in gasoline prices – helped to push down on the headline measure. Grocery […]
30/11/2023

ETHUSD set for a breakout move

Ethereum pulls back from recent multi-month high Generates a structure of lower highs and higher lows Momentum indicators suggest that buying interest is fading ETHUSD (Ethereum) experienced a strong rally since late October, which propelled the price to 2,136, its highest level since April. However, in the past few weeks, the leading altcoin has been trading […]
28/05/2024

WTI Crude Oil Price Shows Bullish Trend Ahead of OPEC Meeting

As the chart indicates, on Monday, the price of WTI crude oil rose by approximately 1%. Reuters reports that the bullish sentiment is driven by: → the upcoming OPEC+ meeting scheduled for 2 June; → expectations of high fuel demand with the start of the summer driving season and holiday season in the US. Conducting […]