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Fed Chair Powell’s speech in the Jackson Hole symposium has cemented the expectations of a Fed funds rate cut in the upcoming September FOMC meeting. The uncertainty element is the magnitude and the pace of the upcoming Fed funds rate cut cycle. Upcoming key US growth data such as ISM manufacturing, and services PMIs (including […]

The post Three Key Charts to Watch After Jackson Hole That May Impact US Stock Market appeared first on Action Forex.

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Gold Continuing To Find Support Into The Pullbacks

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06/05/2024

All’s Well That Ends Well

Friday’s US jobs data brightened up the mood among Federal Reserve (Fed) doves, as both the NFP, unemployment rate and wages pointed at a slowing labour market in April. The US economy added 175K new nonfarm jobs last month, the wages grow less than 4% – which is still twice the Fed’s inflation target but […]
05/01/2024

USDCAD Marks Bullish Wave in Short-Term

USDCAD meets 20-day SMA Technical signals mixed; downtrend well intact USDCAD has been rising since the end of 2023 after the bounce off the 1.3175 support level and is currently reaching the short-term 20-day simple moving average (SMA) near 1.3373, but is still developing beneath the descending trend line. The MACD and the RSI are […]
16/03/2024

The Weekly Bottom Line: Sticky Prices Could Delay Rate Cuts

U.S. Highlights February’s Consumer Price Index report showed that inflation came in higher-than-expected for a second consecutive month – a development which is likely to be on the Fed’s agenda at their two-day meeting next week. Spending in the retail sector disappointed expectations, despite some recovery from last month’s notable decline. With inflation top of […]