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Retail sales declined by -0.8% month-on-month (m/m) in January, in contrast to December’s downwardly revised 0.4 % gain (previously 0.6%). This was lower than the consensus forecast calling for a more modest decline of -0.2%. Trade in the auto sector was down -1.7% m/m, reflecting a decrease in sales at both motor vehicle dealers (-1.8%) […]

The post U.S. Retail Sales Opens 2024 on a Subdue Note appeared first on Action Forex.

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30/04/2024

EUR/USD: Sideways Within a Medium-Term Downtrend

Eurozone preliminary core CPI rate for April continued to inch lower at 2.7% y/y, its slowest pace of inflationary pressure since February 2022. 2-year and 10-year Eurozone sovereign bonds/US Treasuries yield spread discounts have continued to widen which supports a potential medium to long-term bearish trend on the EUR/USD. Watch the 1.0740 key short-term resistance […]
07/08/2024

GBPUSD Drops Out of Bullish Channel

GBPUSD trims more gains after bearish channel breakout Technical signals remain negative; support at 1.2670 GBPUSD bears powered up on Tuesday with scope to fight the 200-day simple moving average (SMA) and the support trendline from the 2022 low at 1.2670, which triggered the April-July bull trend. Notably, the 50% Fibonacci retracement of this upleg […]
01/12/2023

Top Three Trade Ideas for December 2023

Hey folks, it’s a wrap to yet another month in the 2023 calendar, and I’m guessing you know what that means – time for another episode in the “What To Trade” series. For December, I will be mapping out trade more cautiously as the market volatility often drops massively, causing the markets to slow down […]