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Yesterday was one of those days when investors insisted on seeing a glass that was one-tenth full as completely full. The US producer price data came in higher than expected. The US factory-gate prices jumped 0.5% on a monthly basis instead of 0.3% penciled in, the yearly figures increased in line with expectations. US President […]

The post PPI Data Didn’t Feel ‘Right’ appeared first on Action Forex.

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05/06/2024

EUR/USD to Hold Below 1.09 Given the Risk of Euro Weakness

Markets The three-day Treasury rally morphed into a four-day advance yesterday. The common theme is some worry on (US) growth momentum. It all started last Thursday with downward revisions to Q1 GDP data (especially consumption). Slightly disappointing spending data on Friday, a steeper drop in new orders in the manufacturing sector on Monday and a […]
20/12/2023

Technical Outlook and Review

DXY: The DXY (US Dollar Index) chart currently shows an overall bearish momentum, indicating a potential for price to make a bearish continuation towards the 1st support. The 1st support level at 101.87 is identified as a multi-swing-low support. Further below, the 2nd support level at 100.67 is noted as a swing-low, further reinforcing its […]
12/07/2024

Nasdaq 100 Index Fell Despite Positive Inflation News

Yesterday, Consumer Price Index (CPI) values were published, indicating a slowdown in the rate of inflation in the USA. According to ForexFactory: → CPI month-on-month: actual = -0.1%, forecast = 0.1%, previous month = 0.0%; → CPI year-on-year: actual = 3.0%, forecast = 3.1%, previous month = 3.3%. The data confirming the slowdown in inflation […]