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This week, we published our updated economic projections for the major economies and the Nordics, see Nordic Outlook – Return to Nordic growth, 5 March. While political risks remain high, the global economy is performing better than feared. The Nordic economies are currently in stagnation or mild recession, but our forecasts point to gradual return […]

The post Weekly Focus – Rate Cuts on the Horizon appeared first on Action Forex.

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US: Job Growth Remained Strong in February, But Unemployment Rate Rises to Two-Year High    

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US February Employment: The Devil Is in the Details

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01/05/2024

ADP Hints at Another Strong NFP on Friday

The monthly ADP labour market report showed that America created 192K new jobs in April, above the forecasted 179K and following +208K in March (revised from 184K). Overall, there was a slight slowdown in wage growth to 5% y/y from 5.1% a month earlier, which is still quite high because of high employment and the […]
24/04/2024

Stubbornly High Inflation Doesn’t Allow RBA to Cut Interest Rates Anytime Soon

Markets Disappointing April US PMI’s triggered some short covering in US Treasuries. The composite PMI declined from 52.1 to 50.9 (vs 52 consensus) with both manufacturing (49.9 from 51.9) and services (50.9 from 51.7) contributing. Details showed inflows for new business falling for the first time in six months and firms’ future output expectation slipping […]
22/03/2024

Technical Outlook and Review

DXY: The dollar index (DXY) chart currently demonstrates an overall bullish momentum. In this context, there is a potential scenario for price to rise towards the pivot before potentially making a bearish reaction and pull back towards the 1st support. The pivot level at 104.18 is identified as an overlap resistance where price could potentially […]