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U.S. Highlights Nonfarm payroll gains came in lower than expected in July, with the unemployment rate heading higher. The numbers add to other data suggesting that the U.S. labor market is losing steam. While the Federal Reserve held rates steady at their July meeting as widely expected, Chair Powell gave the strongest indication yet that […]

The post The Weekly Bottom Line: It’s A Different World appeared first on Action Forex.

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20/02/2024

China Cuts LPR Rate, RBA Sounds Hawkish – Focus on US Retailer Earnings

The Chinese returned from their Lunar New Year holiday having traveled and spent more this year than before the pandemic. The early trading hours were cheery, but enthusiasm left its place to doom and gloom quickly as the Chinese equities found it hard to extend gains on the back of looming Chinese problems, like deflation, […]
15/01/2024

Bitcoin Tests the Strength of an Uptrend

Market picture Last week saw the launch of 11 spot bitcoin ETFs in the US. On Thursday, the first day of trading, the total volume traded in these ETFs was $4.6 billion, and the price of bitcoin reached a multi-month high near $49000. The “sell the facts” pattern was already evident on Friday and continued […]
20/05/2024

Gold Hits New Record High

On Monday, a troy ounce of gold set a new price peak of 3438.00 USD. This surge was fuelled by renewed speculation about potential interest rate cuts by the US Federal Reserve, vigorous gold purchases by banks globally, and strong investor demand for safe-haven assets. Recent statistics indicating a slowdown in consumer inflation in the […]