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The sight of the 272K new nonfarm job additions and the fastening wages growth above 4% on a yearly basis smashed the dovish Federal Reserve (Fed) expectations on Friday, and sent the US 2-year yield from around 4.70% to 4.90% in a single move, the 10-year yield spiked to 4.45% and the US dollar index […]

The post Strong US Jobs, European Elections Hammer EUR/USD appeared first on Action Forex.

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20/07/2024

The Weekly Bottom Line: Nearing the Pivot Point

U.S. Highlights After an eerily calm few months, a fresh dose of volatility descended across global financial markets this week. Top Fed officials speaking this week noted that they are getting ‘closer’ to cutting interest rates. Financial markets have fully priced the first cut to come in September. Retail sales and industrial production data for […]
06/09/2024

Canada’s Labour Market Continued to Cool in August

Canada’s labour market added a modest net 22k new positions, roughly on expectations. However, all the gains were in part-time job positions, which rebounded 66k after losses in July. Full-time positions gave back 44k. Growth in the labour force outpaced job gains, pushing the unemployment rate up two tenths to 6.6%, slightly higher than expected. […]
12/07/2024

GBPAUD Wave Analysis

GBPAUD reversed from support level 1.8945, Likely to rise to resistance level 1.3700 GBPAUD currency pair recently reversed up from the powerful support level 1.8945, which has been repeatedly reversing the price from the start of May. The price made numerous Japanese candlesticks reversal patterns near the support level 1.8945 – forming the daily Bullish […]