Sunday, February 28, 2021

Eco Data 3/2/21

The post Eco Data 3/2/21 appeared first on Action Forex.

Hot Stories

A Wild Week of Metals, Yields, Stocks and Dollar

Just after DOW hit new record high in the middle of last week, the rally was choked by skyrocketing treasury yields. Dollar surprisingly ended...

CFTC Commitments of Traders – Risky Currencies Pulled Back on Profit-Taking

As suggested in the CFTC Commitments of Traders report in the week ended February 23, NET SHORT of USD Index futures dropped -436 contracts...

CFTC Commitments of Traders – Traders Trimmed Bets on Crude Oil after Strong Rally

According to the CFTC Commitments of Traders report for the week ended February 23, NET LENGTH for crude oil futures fell -2 873 contracts...

Eco Data 3/5/21

The post Eco Data 3/5/21 appeared first on Action Forex.

Eco Data 3/4/21

The post Eco Data 3/4/21 appeared first on Action Forex.

Eco Data 3/3/21

The post Eco Data 3/3/21 appeared first on Action Forex.

WTI in multi-day highs, approaches $63.00

The barrel of WTI trades closer to the $63.00 mark. EIA weekly supplies rose by nearly 5.5M barrels. OPEC+ meets in Jeddah in the weekend. The price...

US Dollar Index technical analysis: DXY trades at three-day lows after Fed’s rate cut and press conference

The US Dollar Index (DXY) is under pressure after the Fed’s rate cut and the press conference. The market is challenging 97.45 support. Further weakness to...

GBPUSD Resilient Within Bullish Channel After Brexit Trade Deal

GBPUSD held within the 1.3500 territory on Monday and slightly below its 2 ½-year high of 1.3623 following the endorsement of a skinny Brexit...

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Regulation

GBP/CHF resumes rally as BoE didn’t want to signal setting negative rate

Sterling jumps as in the BoE minutes noted, ” the Committee was clear that it did not wish to send any signal that it intended...

German DAX Eyeing 12200/11600 Area – Elliott Wave Analysis

DAX has recently found a high for a higher degree wave I at 13318 level, so latest price activity can be part of a...

Bad Data, Possibility of Canceling Olympics Pushing USD/JPY Higher. Can it Continue into Fiscal Year-End?

The news was not good for Japan this week.  First, Japan extended its state of emergency due to the coronavirus to 5 more Prefectures. ...

Focus Remains On US & EU Stimulus

US stock futures are not foretelling anything good as of early Monday, after the third consecutive week of solid performance. Investors are worried that...

EUR Futures: upside momentum starts to falter

In light of advanced data for EUR futures markets from CME Group, investors trimmed their open interest positions for the fifth consecutive session on

Euro Falls As Spain And Italy Unveil Sweeping Circuit-Breaker Rules

The euro declined in early trading as traders focused on the rising Covid-19 cases in European countries and measures implemented by Italy and Spain to deal with it. In a statement, the Italian government said...

Market News

US: ADP private sector employment change +27K in May vs. 180K expected

The ADP's monthly data showed that the private sector employment increased by only 27,000 in May and missed the market expectation of 180,000 by...

EUR/USD Trades At 1.1430

On Tuesday, the EUR/USD currency pair raised to the upper line of the short-term ascending channel at 1.1410. During today’s morning, the pair broke...

RBA: Cash rate unchanged despite lower growth and inflation – ANZ

David Plank, head of Australian economics at ANZ, points out that the RBA Board kept the cash rate unchanged at its May meeting despite...

Caution Prevails In Asia

Although China has returned from its week-long break today, there are little signs that mainland markets want to play catch-up with the equity action...

RBA in a hurry to get the cash rate lower – ANZ

In view of analysts at ANZ, the RBA seems to be in a hurry to get the cash rate lower and following this week’s...

LATEST POSTS

AUD/USD consolidates strong gains, heads for the highest close in a month

AUD/USD soars above 0.6800 as the DXY slides toward 97.50.  Key events: RBA Lowe speech, Chinese data and Brexit headlines. The AUD/USD pair finally broke decisively above...

Loonie Trading Higher In The Morning Session

For the 24 hours to 23:00 GMT, the USD rose 2.33% against the CAD and closed at 1.3291. Data showed that Canada’s wholesale sales climbed...

USD/JPY Exceeded Monthly PP

On Monday, the USD/JPY currency pair surpassed the monthly PP at 106.09. During today’s morning, the pair was trading near the given level. It is...

Canada’s Consumer Price Index Fell More-Than-Expected In April

For the 24 hours to 23:00 GMT, the USD rose 6.59% against the CAD and closed at 1.3902. On the data front, Canada’s consumer price...

AUD/USD continues to erase RBA-inspired gains, edges lower toward 0.70

RBA keeps policy unchanged to boost the AUD. China's Liu confirms that he will be travelling to Washington. US Dollar Index stays calm near mid-97s. The AUD/USD pair...

PBOC sets Yuan reference rate at 6.9933 versus Friday’s 6.9945

China’s central bank, the People's Bank of China (PBOC), has set the Yuan reference rate for Monday at 6.9933 versus Friday’s fix at 6.9945.

NZD/USD surges after RBNZ, targeting 0.7131 next

NZD jumps even though RBNZ maintained a dovish tone. Some analysts noted that the FLP could be enough to stimulate the economy as recovery remains...

New Zealand BusinessNZ PMI recovered to 39.7, negative tone remains evident

New Zealand BusinessNZ Performance of Manufacturing Index rose to 39.7 in May, up from April’s 25.9. Looking at some details, productions improved notably from 19.1...

GBP/USD Outlook: Bulls Face Headwinds From Weekly Cloud Base

Cable probes above 200DMA (1.2668) in early Monday after Friday’s close was exactly at 200DMA, with the action being underpinned by big weekly bullish candle...