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Market picture Cryptocurrencies continued to sag, failing to support gains in the stock market, returning the crypto market cap to $2.30trn levels seen a week ago. The market formed another lower local peak, a sequence that has been in place since March. A move towards the lower end of the sloping range suggests the potential […]

The post The Crypto Market Pulled Back Further into the Range appeared first on Action Forex.

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11/07/2024

US CPI Preview: US Dollar Index (DXY) Looks for Guidance from Inflation Data

Anticipation is high for the release of US CPI data, which is expected to influence market movements, especially the US Dollar Index (DXY). The market has priced in an 71.8% chance of a September rate cut, and if inflation aligns with or falls below forecasts, this likelihood could increase. Technically, the DXY is range-bound, hovering […]
22/08/2024

US Dollar Index (DXY) Tumbles as BLS Revises Job Growth Downward, Rate Cuts Loom

US Dollar Index Plummets on Revised Jobs Data and Dovish Fed Minutes BLS Revises US Job Growth Downward. Biggest Downward Revision Since the Global Financial Crisis. Fed Rate Cuts Priced In? Powell’s Jackson Hole Speech in Focus. The US Dollar has been treading water and is on course for a four day losing streak. A […]
14/03/2024

Sunset Market Commentary

Markets ECB’s Stournaras this morning hijacked the headlines. The Greek governor said rates need to be cut soon: twice before the summer break (in August) and twice before the end of the year. He expects the first one to happen in June. Dutch hawk Knot sided with his Greek colleague insofar he is penciling in […]