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Market participants have started to question the earlier high earnings growth prospects placed on the “Magnificent 7” stocks. The past month of record low implied correlation among S&P 500 component stocks can increase the odds of a more pronounced spike in the VIX. The S&P 500 is at risk of shaping a medium-term (multi-week) corrective […]

The post SPX 500: Further Weakness May Trigger Medium-Term Global Risk-off Event appeared first on Action Forex.

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U.S. Economic Resilience on Display in the Second Quarter

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11/09/2024

US: Higher Shelter Costs Drive Unexpected Gain in Core Inflation in August 

The Consumer Price Index (CPI) rose 0.2% month-on-month (m/m) in August, bang-on the consensus forecast. On a twelve-month basis, CPI fell to 2.5% (from 2.9% in July). Energy prices (-0.8% m/m) were a drag on headline inflation, with both energy commodities and energy services lower on month. Food prices remained largely subdued, rising 0.1% m/m […]
25/07/2024

Markets Gradually Moving to a Scenario of Fed Cutting Cumulative 75 bps This Year

Markets Market focus yesterday initially was on the PMI releases. Later sentiment turned sharply risk-off even as there was no outright link between both storylines. EMU PMI’s (50.1 from 50.9) indicated that activity came to an almost standstill at the start of Q3. This triggered a further dis-inversion/steepening of the EMU/German curve, even as costs/price […]
19/03/2024

Bank of Japan Ends the Era of Negative Interest Rates

The Bank of Japan has not raised interest rates for 17 years. For 8 years, it was in the negative zone. But today there was a dramatic shift in monetary policy — the Bank of Japan announced a decision to increase the interest rate from -0.1% to 0.1%. The central bank also abandoned yield curve […]