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US 500 stock index loses steam before reaching all-time high Technical signals show falling buying appetite; support at 5,850 The US 500 stock index is shaky at the top of its uptrend. It recently lost some momentum, closing below October’s support trendline on the four-hour chart. This might lead to increased selling interest if the price also […]

The post US 500 Index Little Wobbly Near Record High appeared first on Action Forex.

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05/11/2024

AUD/USD Outlook: Hawkish RBA Lifts Aussie Dollar Towards Key Resistance Zone

AUDUSD rose to one week high on Tuesday morning, after the RBA kept interest rates steady at 12-year high and kept hawkish stance on persisting upside inflation risk, although remains ready to act if economy weakens more. Near-term action is holding within a recovery leg from 0.6587 (Oct 30 low) and was boosted by Monday’s […]
04/09/2024

AUD/USD Steady Despite Weak GDP

The Australian dollar is drifting on Wednesday. AUD/USD is trading at 0.6704 in the European session, down 0.10% today at the time of writing. The Australian dollar took a bath a day earlier, sliding 1.1%, one of the sharpest daily declines this year. Australia’s GDP dips to 0.2% Australia’s economy gained a paltry 0.2% q/q […]
16/01/2024

Canada: Little Progress on Inflation in December

As expected, headline CPI inflation moved in the wrong direction in December, rising three ticks to 3.4% year-on-year (y/y). Energy prices, and more specifically gasoline prices, were a key culprit boosting headline CPI higher. Gasoline prices fell on a monthly basis, but are now 1.4% higher  than a year ago, a big swing from being […]