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Markets Biden’s dropout from the presidential race grabbed most of the headlines today, if only because there was basically no other news to report. He and many other Democrats have endorsed the current runner-up Kamala Harris as the new nominee. What that means for the eventual election outcome and policy is unclear at this stage. […]

The post Sunset Market Commentary appeared first on Action Forex.

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News of the Week (July 22—26): USDCNH Review

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US GDP and PCE Inflation Up Next Before July FOMC

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18/05/2024

The Weekly Bottom Line: Inflation Breaks Its Heat Streak

U.S. Highlights After three consecutive months of hotter-than-expected inflation, consumer prices in the U.S. finally broke the heat streak in April, with headline and core inflation decelerating. Retail sales also lost momentum in April, with spending coming in flat for the month. With the data showing some slowing in economic activity, markets are hopeful that […]
22/02/2024

WTI Oil: Price Eases Further, as US Rate Outlook Offsets Persisting Middle East Worries

WTI Oil extends pullback into second consecutive day after recent rally repeatedly failed to clearly break pivotal Fibo barrier at $78.13. Subsequent easing is generating an initial signal of reversal and formation of a lower platform at $78.50 zone, as fresh bears broke below 200DMA ($77.65) and converged 10/100DMA’s ($77.12), though close below these levels […]
03/02/2024

Canadian Dollar Eyes US Nonfarm Payrolls

US nonfarm payrolls expected to drop to 180,000 The week wraps up with the US nonfarm payroll report later today. The ADP employment report, which was released on Wednesday, fell from 158,000 to 107,000. The ADP report isn’t considered a reliable guide for nonfarm payrolls, but investors still attach significance to it as they hunt […]