US Oil Heads Towards Daily Support
WTI crude fell as US inventory rose by 3.6M barrels last week. The bearish MA cross on the daily chart could be the start of consolidation for the days to come. The fall below 71.80 is an indication that sentiment...
Dollar Recovered But Lacks Follow Through Buying, Sterling Turns to BoE First
Overall markets were rather mixed for the moment. Dollar’s selloff was quickly choked off by strong ISM services overnight, even though there is no clear follow through buying. Traders are holding off the bets for now, awaiting tomorrow’s non-farm payroll...
Fed Vice Chair Clarida anticipates rate hikes starting in 2023, sees upside risks to inflation
Richard Clarida Scott Mlyn | CNBC Federal Reserve Vice Chairman Richard Clarida said Wednesday the central bank is likely to hit its economic targets by the end of next year and start raising interest rates again in 2023. While he...
PNC’s top investor predicts retail mania’s downfall, delivers correction warning
PNC Financial’s Amanda Agati is predicting the retail frenzy’s downfall. When the government starts eliminating stimulus policies intended to help the nation weather the pandemic, the firm’s chief investment officer believes retail investors will hesitate to put new money to...
Aussie Shrugs Off Soft Retail Sales
Australian dollar extends rally The Australian dollar continues to impress and is in positive territory for a third successive day. AUD/USD punched into 74-territory earlier in the day before retreating slightly. Australian dollar shrugs off retail sales decline The news...
German Bund Yields Fall Below -0.50; Highly Correlated with EUR/JPY in Short-Term
The current correlation coefficient between German Bund Yields and EUR/JPY on a 240-minute timeframe is +0.94! There has been a lot of talk lately about the drop in US 10-year yields, moving from 1.7742 on March 30th, down to today’s...
U.S. Services Sector Remains Hot, Reaches a New High
ActionForex.com was set up back in 2004 with the aim to provide insightful analysis to forex traders, serving the trading community for over a decade. Empowering the individual traders was, is, and will always be our motto going forward. Contact...
Bitcoin – Patience to Pay Off?
Or pullback a cause for concern? Should we be concerned that the bitcoin has stalled just as it appeared poised to take off? Bitcoin has pulled back in recent days, with the price falling from around $41,000 to roughly $37,500....
Dollar Falls on Big ADP Miss, Gold Surges
US futures turn south after much weaker than expected ADP job data. Yen regains much growth as risk sentiment turn cautious again. Though, as for today, Kiwi and Aussie are still the strongest. Canadian Dollar is currently the worst performing...
Private companies added 330,000 jobs in July, according to ADP, far short of the 653,000 estimate
A ‘We’re Hiring!’ sign is displayed at a Starbucks on Hollywood Boulevard on June 23, 2021 in Los Angeles, California. Mario Tama | Getty Images Job creation at private companies tumbled in July as fears mounted over the spreading coronavirus...
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