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WTI oil finds significant support at 200-week SMA Will the price end the bearish move soon? RSI and stochastic suggest upside correction As the year 2023 is coming to an end, WTI crude oil is developing beneath January’s market price. The price is currently testing the 200-week simple moving average (SMA) after seven consecutive red […]

The post WTI Crude Oil Holds Neutral in 2023 appeared first on Action Forex.

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Recent Inflation Data Probably Will Allow Fed to Remove a Final Rate Hike

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16/08/2024

Skating to Where the Puck Used to Be

Data revisions have partly undercut the RBA’s narrative of lower aggregate supply than expected. The RBA will need to skate to where the labour market is going to go, not where it used to be. Recent events have not materially changed our view about the outlook for the Australian economy. Recent communication from the RBA […]
18/09/2024

Will FOMC Cut by 25 or 50bp?

In focus today Today’s main event will be the FOMC rate decision at 20:00 CET – we expect a 25bp cut of the Fed Funds Rate target (to 5.00-5.25%). This morning markets price in a 65% probability for an even bigger 50bp rate cut. Even though the Fed will now initiate its rate cutting cycle, […]
25/04/2024

Japanese Yen Moved Beyond USD/JPY 155 for the First Time Since 1990

Markets Core bonds drifted away again yesterday. In the US, Treasuries reversed Tuesday’s (disappointing) PMI-induced spike higher. Weakening demand and a slight tail at the US Treasury’s record $70bn 5-yr Note sale kept UST’s near intraday lows going into the close. The longer end of the curve underperformed with the front end locked in the […]