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In a week with no big data or central bank surprises, renewed fears of turmoil in the US banking sector on the back of the free fall of the New York Community Bancorp (NYCB) stock, drove longer dated yields lower as markets largely ignored hawkish Fed comments. With decent macro data and declining inflation as […]

The post Weekly Focus – Wait and See Mode in Central Banks appeared first on Action Forex.

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Technical Outlook and Review

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The Weekly Bottom Line: Resilient Labor Demand and A Patient Fed

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03/01/2024

USD/CAD Price Analysis: Maintains Its Position Near 1.3330 Ahead of US Key Events

USD/CAD moves sideways after halting a winning streak that began on December 27. MACD indicator suggests a potential shift in the pair’s direction. A break above the 23.6% Fibonacci retracement at 1.3351 could lead the pair to surpass the 21-day EMA at 1.3363. USD/CAD hovers near 1.3330 during the Asian session on Wednesday. The USD/CAD […]
11/09/2024

August CPI: Probably a 25 bps Rate Cut Next Week

Summary August’s inflation data probably cement a 25 bps, rather than a 50 bps, reduction in the federal funds rate at next week’s FOMC meeting in our view. The 0.2% increase in headline CPI was in line with expectations, while the 0.3% increase in core CPI was slightly higher than consensus forecasts. Another month of […]
17/05/2024

Morning Report

Key themes: US equities finished lower, pulling back from a rally that briefly drove the Dow Jones to a record high. A number of hawkish Fed speakers suggested that the Fed is in no rush to cut interest rates. This saw US bond yields increase. The US dollar also advanced. The Aussie finished lower. The larger […]