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US 500 index climbed to new record highs last week But got rejected and has retreated a little since MACD and RSI look overbought Following the bounce off the 5,385 support level, the US 500 (cash) index added more than 7%, reaching an all-time high of 5,772.52 last week. Technically, the index is sailing near […]

The post US 500 Calms Down After Hitting New Record High appeared first on Action Forex.

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27/05/2024

Quiet Start to a Week Where Inflation Will Be in Focus

In focus today The week kicks off with a very light schedule. We receive the Germany Ifo indicator for May at 10.00 CET. The past two months have seen an increase in the assessment of the business situation, and it will be interesting to see if this continued in May. The US is out today […]
02/08/2024

Sunset Market Commentary

Markets Markets are trembling. US payrolls missed expectations by a significant margin as employment only grew by 114k (175k consensus). Last month’s reading was revised down by about 30k. The unemployment rate unexpectedly rose to 4.3%, the highest since Oct 2021, and hourly earnings only rose by 0.2% m/m (3.6% y/y). It’s a big disappointment […]
30/01/2024

Aussie Shrugs Off Soft Retail Sales, Inflation Next

The Australian dollar showed little reaction to the release of Australian retail sales earlier today. In the European session, AUD/USD is trading at 0.6600, down o.15%. Australia’s retail sales sink in December The markets were braced for a soft December retail sales but the damage was worse than expected. Retail sales fell by 2.7% m/m, […]