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U.S. Highlights Inflation, as measured by the Consumer Price Index, accelerated to 3.5% year-on-year in March – the highest reading in six months. Minutes from the Federal Reserve meeting in March showed that officials remained in favor of exercising patience amid persistent inflationary pressures. U.S. Treasury yields spiked roughly 15 basis-points as market expectations for […]

The post The Weekly Bottom Line: One Hundred Days into 2024, Rate Cuts Remain on the Horizon appeared first on Action Forex.

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14/06/2024

Crypto Bears in Charge

Market picture Crypto market capitalisation fell 0.5% to $2.44 trillion as Thursday’s growth attempt failed to gain traction due to a new wave of dollar strength. Risk demand is gradually diminishing, forming a sequence of declining intraday highs. However, horizontal support remains in the 2.42 trillion area, where the market also stabilised from May 17th […]
11/01/2024

AUD/USD: Mixed Technical Picture Eyes US Inflation Data for Direction Signal

AUDUSD edged higher in early Thursday’s trading, underpinned by much better than expected Australian trade data and risk mode in stock markets. Strong rejection of the pullback from 0.6871 (Dec 28 peak) and pivotal Fibo support at 0.6641 (38.2% of 0.6270/0.6871 rally points to still strong bids, though more work at the upside will be […]
05/12/2024

Bitcoin Has Hit a New Milestone. Is Ethereum Next?

Market Picture The crypto market has risen by more than 3% in the last 24 hours to reach $3.69 trillion, this time thanks to the euphoria surrounding Bitcoin. The price of the first cryptocurrency surpassed $100,000, a psychologically important milestone. The price then stabilised at $102.4K. It took almost two weeks from approaching this level […]