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Summary United States: Homes Out of Range Chair Powell delivered a distinctively dovish speech this week at Jackson Hole. Elsewhere, a slew of housing data revealed that, although green shoots are sprouting, affordability issues continue to constrain the housing market. Meanwhile, another decline in the Leading Economic Index was a reminder that recession risks lie […]

The post Weekly Economic & Financial Commentary: The Time Has Come for Policy to Adjust appeared first on Action Forex.

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03/05/2024

Norges Bank and Nonfarm to Round Off a Busy Week

In focus today Today we get the US April Jobs Report which will round off the interesting week it has been in markets. We expect non-farm payrolls growth to cool to +200k, as immigration-driven uptick in labour supply continues to boost employment in lower-paying services sectors, but April PMIs suggested that elsewhere demand for labour […]
14/03/2024

Technical Outlook and Review

DXY: For DXY, the potential direction is bearish, aligning with the overall momentum of the chart. There’s a likelihood of a bearish continuation towards the 1st support level. The pivot at 103.44 acts as a significant overlap resistance, indicating a potential barrier where selling pressure may intensify. On the support side, the 1st support at […]
12/07/2024

Elliott Wave Favors Further Upside in GBPUSD

GBPUSD broke above the previous peak on 6.12.2024 which opens up a bullish sequence from 4.22.2024 low. Rally from there is unfolding as a 5 waves impulse Elliott Wave structure where wave 1 ended at 1.286 and pullback in wave 2 ended at 1.261. Wave 3 higher is currently in progress as another impulse in […]