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U.S. Highlights An upside inflation surprise didn’t do much to move markets, as the details of the report fell in line with expectations. The focus remains firmly on the services sector, where housing costs continue to prop up price growth. Looking forward, the Fed will need to see more consistent evidence of disinflation – likely […]

The post The Weekly Bottom Line: The Long and Bumpy Road appeared first on Action Forex.

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26/04/2024

US Yields Reached New YTD Highs Across the Curve

Markets US yields reached new YTD highs across the curve following Q1 US GDP data. The 1.6% Q/Qa headline print missed consensus by quite a margin (2.5% Q/Qa), but details showed underlying strength in consumption and investments. The biggest drag came from net exports with imports rising faster than exports, which we consider a sign […]
04/06/2024

Nasdaq 100: Bullish Reversal Remains Intact Supported by Positive Momentum in 10-year T-Note Futures

Macro factor (10-year US Treasury yield) has likely taken over the driver’s seat in dictating the short to medium-term directional movements of the major US stock indices. Last Friday, 31 May key intraday bullish reversals recorded in the S&P 500, Nasdaq 100, and Dow Jones Industrial Average were led by an earlier rally in the […]
03/05/2024

Bitcoin’s Downtrend, Solana and Ethereum Form Double Bottom

Market picture Crypto market capitalisation rose 3.3% in 24 hours to $2.22 trillion. Local capitalisation bottomed near $2.10 trillion, confirming a sequence of declining local lows (2.3 in March, 2.25 in April) and highs (2.76 in mid-March, 2.67 in early April and 2.46 in late April). Ethereum and Solana are adding from the area of […]