Monday, Jul 29, 2024 Tuesday, Jul 30, 2024 Wednesday, Jul 31, 2024 Thursday, Aug 1, 2024 Friday, Aug 2, 2024 The post Summary 7/29 – 8/2 appeared first on Action Forex ..read more

Global markets experienced a volatile week, influenced by a tech selloff, China growth concerns, and anticipation of central bank decisions and US earnings reports Despite the volatility and tech led selloff, US equity funds saw inflows. Central bank meetings, particularly the FOMC and BoJ, and US NFP data will be key drivers of market sentiment […] The post Markets Weekly Outlook: Central Banks and US Earnings. Will BoJ Hike Rates? appeared first on Action Forex ..read more

Summary United States: Economic Resilience or Reticence? The U.S. economy defied expectations in the second quarter, expanding at a 2.8% annualized pace. Despite the upside surprise, we still see enough softening in inflation and signs of stress to warrant a rate cut in September. Next week: ECI (Wed.), ISM Manuf. (Thu.), Employment (Fri.) International: Bank […] The post Weekly Economic & Financial Commentary: Wake Me Up When September Ends appeared first on Action Forex ..read more

We expect the Bank of England (BoE) to keep the Bank Rate unchanged at 5.25% on 1 August. We stress that it is a very close call not least due to the very limited amount of communication from the MPC over the past months. Overall, we expect the BoE to deliver a dovish twist to […] The post Bank of England Preview – A Dovish Hold; Limited EUR/GBP Downside Potential appeared first on Action Forex ..read more

The week ahead is a busy one on the data calendar with the release of Canada’s gross domestic product for May and the U.S. Federal Reserve’s decision on interest rates on Wednesday, followed by U.S. payroll employment data on Friday. Canadian GDP data should continue to point to a weakening economy in Q2. We expect […] The post Canadian GDP Growth to Slow, U.S. Fed to Stand Pat appeared first on Action Forex ..read more

Markets Markets finally took a breather this morning after recent sharp risk-off repositioning especially in equities and interest rates. However, it doesn’t feel as if a sharp, sustained countermove is already in store. Initial ‘gains’ in yields, gradually evaporated. Equities are rebounding about 0.75% (Eurostoxx50 & S&P500) but one has the feeling that some kind […] The post Sunset Market Commentary appeared first on Action Forex ..read more

Daily Pivots: (S1) 1.0825; (P) 1.0848; (R1) 1.0867; More….. Intraday bias in EUR/USD remains neutral at this point. Deeper fall is in favor as long as 1.0896 minor resistance holds. Below 1.0825 will target 55 D EMA (now at 1.0813). Sustained break there will argue that whole rebound from 1.0601 has completed with three waves […] The post EUR/USD Mid-Day Outlook appeared first on Action Forex ..read more

Daily Pivots: (S1) 0.8776; (P) 0.8818; (R1) 0.8858; More… Intraday bias in USD/CHF is turned neutral with current recovery, and some consolidations would be seen above 0.8776 temporary low. Risk will stay on the downside as long as 0.8923 resistance holds. Break of 0.8776 will extend the fall from 0.9223 to 61.8% retracement of 0.8332 […] The post USD/CHF Mid-Day Outlook appeared first on Action Forex ..read more

Personal income grew 0.2% month-on-month (m/m) in June, down from May’s 0.4% gain, and below market expectations (also 0.4%). Accounting for inflation and taxes, real personal disposable income growth slowed in June, up 0.1% m/m, relative to a 0.3% gain in May (revised down from 0.5% previously). Personal consumption expenditures also geared down slightly in […] The post US: Consumers Close Q2 on an Upbeat Note, But Momentum Unlikely to be Sustained appeared first on Action Forex ..read more

Gold price rose on Friday, as traders collected some profits from sharp fall in past two days (down nearly 3%), with strong acceleration lower on Thursday being sparked by upbeat US Q2 GDP numbers. Strong technical support, provided by the top of daily Ichimoku cloud, repeatedly contained attacks, keeping the downside protected for now. Initial […] The post XAU/USD Outlook: Gold Edges Higher from Daily Cloud Top as Markets Await Release of US Data appeared first on Action Forex ..read more