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U.S. Highlights The retail sales report once again reinforced the message that the U.S. consumer continues to brush off headwinds. Personal income growth, some remaining pandemic savings, and a healthy labor market should help to support trend-like growth in personal consumption expenditures into early 2025. A still healthy labor market, and a commitment to data […]

The post The Weekly Bottom Line: Canadian Inflation Drops Below Target appeared first on Action Forex.

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Markets Weekly Outlook – PMI Data and IMF Meeting Dominate the Agenda

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11/07/2024

June CPI: September Rate Cut Incoming

Summary This morning’s CPI report was arguably the most encouraging one the FOMC has received since it began its inflation fight nearly two and a half years ago. Consumer prices declined by 0.1%, led lower by a drop in energy prices and a modest increase in food prices. Excluding food and energy, the core CPI […]
21/06/2024

Sunset Market Commentary

Markets PMI business confidence was on tap at the close of the week. The European June edition comes with an important disclaimer though. PMI owner S&P Global noted that the turmoil in the wake of the European elections and the French snap elections has likely stirred up a lot of uncertainty and that France’s poor […]
12/07/2024

USD/JPY Plummets After US CPI Release: Is BOJ Stepping In?

Key Highlights USD/JPY dived over 250 pips from the 161.80 resistance zone. It traded below a key bullish trend line with support at 160.90 on the 4-hour chart. The US CPI slowed more than expected and came in at 3% in June 2024 (YoY). There were speculations of BOJ’s intervention after USD/JPY declined over 2%. […]