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U.S. Highlights U.S. equity markets briefly touched a new all-time high mid-week, while measures of market volatility dipped to multi-year lows. Minutes from the April 30th-May 1st FOMC meeting struck a more hawkish tone, resulting in markets now pricing in just 34 basis-points of cuts by year-end. Both new and existing home sales dipped in […]

The post The Weekly Bottom Line: FOMC Continues to Preach Patience appeared first on Action Forex.

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01/12/2023

USD/JPY Faces Resistance While Oil Prices Recover

Key Highlights USD/JPY is facing many hurdles near 148.00. A major bearish trend line is forming with resistance near 148.10 on the 4-hour chart. Gold prices jumped toward $2,050 before it faced resistance. Crude oil prices are recovering losses and trading above $75.50. USD/JPY Technical Analysis The US Dollar saw a major decline from well […]
30/07/2024

Elliott Wave Intraday Analysis: Dow Futures (YM) Resumes Bullish Trend

Short Term Elliott Wave View in E-Mini Dow Jones Futures (YM) suggests the trend should continue higher within the sequence started from April-2024 low as the part of daily sequence. It favors upside in wave 5 of (5) since 18-April, 2024 low, while dips remain above 40053 low. Since April-2024 low of (4), it placed […]
24/07/2024

Yen Extends Its Comeback Supported by strong Japan Jibun Services PMI

Markets In a session with few important data core bonds remained well bid, Bunds outperforming Treasuries. German yields declined between -11.6 bps (2-y, benchmark change) and -4.5 bps (30-y) in a bull steepening move. Investors apparently stay confident that the ECB will able to continue its easing cycle as of September even as June EMU […]