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Risk appetite got another hit yesterday after the US ADP report printed a weaker-than-expected number. The data suggested that the US economy added only 99K new private jobs last month, significantly less than 144K pencilled in by analysts, and lower than last month as well, even after the downside revision of last month’s figure to […]

The post The Data that Could Tip Fed’s Hand appeared first on Action Forex.

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25/04/2024

Wolf in Sheep’s Clothing: Soft GDP Hides Surging Spending

Summary Real GDP grew at only a 1.6% annualized pace in Q1, held back by trade and inventories. Consumer spending in the service sector is not slowing, in fact, it is ramping up at a rate seldom seen in the past 20 years. That is problematic as core PCE prices are picking up again in […]
15/12/2023

ETHUSD Attempts to Erase Recent Pullback

Ethereum posts 19-month peak before retracing lower But the bulls regain control and recoup some losses Momentum indicators point at more gains ahead ETHUSD (Ethereum) has experienced a strong rally since late October, which propelled the price to a fresh 19-month peak of 2,403 on December 9. Although the latest high was followed by a mild […]
01/12/2023

GBPCAD Wave Analysis

GBPCAD reversed from resistance level 1.7280 Likely to fall to support level 1.7100 GBPCAD currency pair recently reversed down from the long-term resistance level 1.7280 (strengthened by the upper daily Bollinger Band), which has been reversing the pair from the start of July, as can be seen below. The pair is currently forming the daily […]