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All major US indices advanced to fresh ATH yesterday; the S&P500 and Nasdaq 100 traded at the uncharted territory, while the Dow Jones Industrial index hit the 40’000 mark for the first time – sparking the good, old discussions about ‘how long did it take the Dow Jones to walk the last 10’000 points’. It […]

The post The Elephant in the Room appeared first on Action Forex.

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13/09/2024

Dollar Index Outlook: Eyes Fed Decision for Fresh Direction Signals

A quick change in sentiment pushed the dollar index price to the lowest of the week in European trading on Friday, after it hit weekly high on Thursday afternoon, just ahead the US data which deflated the dollar. The price action has been in a sideways mode in past couple of weeks and moving above […]
20/04/2024

Supercharged US Dollar Turns to GDP Growth Data

Dollar goes on a rampage as traders unwind Fed rate cut bets Risk aversion in stock markets amid Iran tensions helps too Upcoming US releases will decide whether rally can go further Dollar shines bright It’s been a phenomenal year for the US dollar so far. The greenback has gained more than 4% against a […]
22/04/2024

Relief Before Earnings

The week starts with a relief rally in equities following a calm weekend on the geopolitical scene. The US 2-year yield pushes above 5% ahead of US GDP and PCE updates. Four of Magnificent 7 are due to report earnings this week. Oil under pressure following calm weekend US crude kicks off the week under […]