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US indices have been gaining daily since the beginning of May. They have found strength amid relatively weak job reports and quite upbeat quarterly earnings. The S&P500 and Nasdaq100 indices are just 1.5% below the all-time highs set in March. The market downturn in the first three weeks of April has whetted bargain hunters’ appetite. […]

The post US Indices Heading Towards Highs appeared first on Action Forex.

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31/08/2024

The Weekly Bottom Line: More Reason to Ride Down the Policy Escalator

U.S. Highlights The second estimate of Q2 GDP revealed that the U.S. economy grew at 3.0% annualized, a bit stronger than previously reported, thanks to an upward revision in consumer spending. Spending momentum continued into July, outstripping income growth for the sixth consecutive month and pushing the savings rate to a two-year low of 2.9%. […]
13/05/2024

Sunset Market Commentary

Markets All eyes are on Wednesday’s US CPI inflation print and to a lesser extent its PPI precursor tomorrow. That led to stoic, listless trading at the start of the new week. China announced during early Asian dealings that it will kick off its CNY 1tn stimulus plan on Friday with a CNY 40bn 30-yr […]
06/08/2024

FOMC to Act Decisively, But With Confidence

We have added additional rate cuts at the November and January FOMC meetings to our profile. Our unrevised terminal rate of 3.375% is now seen at end-2025 instead of mid-2026. July’s US employment report unnerved global markets. Growth in nonfarm payrolls slowed to less than half the average of the prior twelve months (including revisions) […]