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In focus today In the euro area, we receive the final euro area inflation data for April. We will especially look out for what drove the still strong service inflation and the measures of domestic inflation as these are key for the monetary policy outlook. Economic and market news What happened overnight In Japan, Kazuo […]

The post US Manufacturing Disappoints Again appeared first on Action Forex.

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07/02/2024

A Tug of War Between Hawks and Doves

The selloff in US sovereign bonds reversed yesterday after a solid demand for the US 3-year bond auction counterweighed a bulk of hawkish comments from Federal Reserve (Fed) members. The Fed members are on the battlefield, fighting the doves. Loretta Mester said there is no rush to cut rates and Neel Kashkari said that the […]
27/03/2024

Gold: Suspicious Storm of $2200

Gold breached the $2200 mark for the second time in history on Tuesday before retreating to $2182 in early US trading. Cryptocurrencies are trading in the same direction as gold today, but silver, platinum and copper are failing to make similar gains, causing some unease. Gold’s break above $2195 tested the rally high from late […]
20/12/2023

USDJPY Holds Within Key Lines

USDJPY rebounds off 140.90 Momentum indicators suggest more gains in the near term USDJPY stormed higher after penetrating the 200-day simple moving average (SMA) but found strong resistance at the 200-day exponential moving average (EMA), recouping some of last week’s losses. The RSI indicator bounced off the 30 level but is flattening, while the MACD […]