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Markets Wednesday’s bumper 50 bps Fed kick-off yesterday resulted in a further steeping of the US curve, with the short end still challenging recent lows. The intraday price dynamics was briefly interrupted by a better than expected Philly Fed business outlook and even more by a decline in the weekly jobless claims (219k from 231k). […]

The post US Curve Steepening and Outright Risk-on Context Kept Dollar in the Defensive appeared first on Action Forex.

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Cliff Notes: 50 Proves the Magic Number

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04/09/2024

Sunset Market Commentary

Markets Equities continue to take center stage on markets. European stocks underperformed in a catch-up move with the US. The EuroStoxx50 loses another 1.2%. Wall Street was granted some relief after yesterday’s violent sell-off with stocks trading currently only marginally lower (Nasdaq -0.3%). Tuesday’s sell-off took place against the backdrop of lofty (tech) valuations & […]
19/08/2024

EUR/USD Outlook: Break Above 1.1000 Adds to Bullish Outlook, Limited Dips Should Be Anticipated

EURUSD keeps firm tone at the start of the week and extends gains above psychological 1.10 barrier after registering a weekly close above this level for the first time since late December. Bulls also cleared a Fibo resistance at 1.1012 (76.4% retracement of 1.1139/1.0601), adding to bullish stance. Falling 200WMA (1.1063) is in focus, with […]
29/05/2024

GBP/USD: Possible Price Adjustment Before Final Break Through 1.2800 zone

Cable firmed in early Wednesday’s trading after hitting nine-week high on Tuesday (1.2800), but subsequently pulling back on unexpectedly strong rise in US consumer confidence in May, which temporarily inflated dollar. Broken Fibo barrier at 1.2753 (76.4% of 1.2893/1.2299) reverted to solid support (reinforced by 5DMA, which so far holds dips, however risk of deeper […]