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In focus today In the US, we receive JOLTs labour turnover, which is a key measure of labour demand for the Fed. The October consumer confidence survey is also due for release. In Sweden, at 08:00 CET, the GDP indicator for Q3 is released. The first two quarters presented a mixed growth picture; the Q1 […]

The post Swedish GDP and US Labour Market Data in Focus Today appeared first on Action Forex.

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Bitcoin’s Bullish Breakout

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08/04/2024

BTC/USD Analysis: Bitcoin Price Rises Ahead of Halving

The halving (reduction of block mining rewards) is expected to occur on April 19-20. Theoretically, Bitcoin mining will become less profitable, leading to a reduction in coin supply. Given unchanged demand, this should drive up the BTC/USD price. Ripple CEO Brad Garlinghouse has forecasted that the cryptocurrency market cap will double by the end of […]
08/12/2023

USD/JPY Tumbles, Upsides Could Be Capped

Key Highlights USD/JPY started a major decline below the 146.20 support. A major bearish trend line is forming with resistance near 146.20 on the 4-hour chart. EUR/USD is consolidating near the 1.0765 support zone. The US nonfarm payrolls could increase from 150K to 180K in Nov 2023. USD/JPY Technical Analysis The US Dollar started a […]
09/05/2024

April CPI Preview: The Clock Is Ticking for a September Cut

Summary A string of uncomfortably-hot inflation readings in the first quarter leaves a narrow window for inflation to downshift before a late summer rate cut by the Federal Open Market Committee (FOMC) is no longer on the table. We expect the April CPI report to demonstrate that while inflation is not as sticky as the […]