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In the past two weeks, the US SPX 500 has continued its pace of acceleration and hit another fresh all-time of 5,150 on Monday, 4 March. However, under the surface, there are signs of weakness from a sector rotation perspective. The SPX 500 is broken down into 11 key sectors and relative performance among the […]

The post SPX 500 Technical: Bulls Getting Tired appeared first on Action Forex.

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15/01/2024

Dollar Stalls, Turns to US Retail Sales for Direction

US retail sales expected to have risen again in December Strong dataset could dampen speculation of rapid Fed rate cuts Data due at 13:30 GMT Wednesday, crucial for dollar’s path Waiting for Fed rate cuts The US economy put in a stellar performance last year. Real economic growth remained around 3%, fueled by resilient consumer […]
09/04/2024

AUD/USD: Aussie Dollar Keeps Bullish Bias ahead of US Inflation Report

AUDUSD is trading within a narrow range on Tuesday morning but keeps slight bullish bias following Monday’s 0.5% advance and a positive signal on daily close above 0.6597 (100DMA / Fibo 61.8% of 0.6675/0.6480 bear-leg). Aussie dollar was boosted by rise in iron ore, but markets are likely to reduce the speed until release of […]
15/07/2024

NZ Dollar Dips After Soft Services PMI

The New Zealand dollar has started the trading week in negative territory. NZD/USD is trading at 0.6097 in the European session, down 0.35% on the day at the time of writing. New Zealand Services PMI slips The week started on a sour note in New Zealand as the Services PMI eased to 40.2 in June, […]