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Markets The US 10-yr yield tested 4.31% support after a small miss in May ADP employment change. The US economy added 152k jobs (vs 175k expected) with April figures marginally downwardly revised to 188k (from 192k). The deviation wasn’t big enough to trigger a strong market reaction both because of the solid nature of the […]

The post Sunset Market Commentary appeared first on Action Forex.

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22/08/2024

Crypto Tug of War

Market picture The crypto market gained 1.7% in the last 24 hours to reach $2.14 trillion, continuing to test August’s resistance. Bitcoin rose 2.6%, while Ethereum gained 1.2%. The battle for a 10th position in the CoinMarketCap has intensified: Tron’s 5.5% drop to a cap of $13.09 billion contrasted with Cardano’s 2.5% rise to $13.17 […]
31/05/2024

Gold: Looking Good for Bulls

Gold (XAUUSD) has rebounded, trading in the $2,340s on Thursday, due to a weaker US Dollar following the second estimate of US GDP data, which was revised down because of reduced consumer spending. The annualized US GDP growth for Q1 was adjusted to 1.3% from an initial estimate of 1.6%, below Q4’s 3.4% but matching […]
20/05/2024

Will UK Inflation Corroborate a June BoE Rate Cut?

Investors assign 60% chance for a June rate cut by the BoE UK CPI data to reveal whether inflation hit the BoE’s target But PMIs imply some upside risks The data is scheduled for Wednesday at 06:00 GMT BoE appears more dovish than expected While a few weeks ago investors were convinced that the European […]