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Last week’s broad-based US dollar strength has dissipated ex-post US non-farm payroll data with the continuation of its underperformance against the GBP. The US labour market has started to show growing slack where the labour force participation rate has dipped to 62.5%, its largest monthly decline in almost three years and full-time unemployment recorded its […]

The post USD/JPY Technical: US Dollar Strength Fizzled Out Ex-Post US NFP appeared first on Action Forex.

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08/08/2024

Nikkei 225: Potential Bullish Key Reversal Week Aafter 4 Weeks of Decline

Monday, 5 August significant sell-off in the Nikkei 225 has triggered a potential bullish key reversal inflection week. Citigroup Economic Surprise Index for Japan staged a positive turnaround on Monday, 5 August which suggests an improvement in macro data. The percentage of Nikkei 225 component stocks trading above their respective 200-day moving averages has reached […]
03/06/2024

Euro Area Inflation Beat Expectations

In focus today Today in the US, we get the May ISM Manufacturing index at 16.00 CET. Its PMI-counterpart released earlier shifted modestly higher, but the leading new orders indices still pointed towards muted growth. In Sweden, we get the manufacturing PMI for May at 08.30 CET. It is set to continue higher from last […]
05/03/2024

Bitcoin Resumes Rally After Mild Consolidation, Record High in Focus

Bitcoin advanced over 4% during early trading on Monday, signaling bullish continuation after a brief consolidation in past few sessions. Fresh rise above 65000 (the highest since November 2021) confirms very strong bids and very low supply, despite negative technical signals from overbought studies. Bitcoin has registered record monthly gains of 45% in February, with […]