Follow the latest analyses and key economic, financial, and global market news in this section. Our team reviews the most important market events daily and provides comprehensive insights for traders and enthusiasts.
Boasting a remarkable gain of 5.38% yesterday, silver prices have retraced somewhat in today’s session, owing to natural profit-taking and better-than-expected US labor data. XAG/USD currently trades around ~34.55350 per troy ounce, down -0.60% for the day. XAG/USD: Key Takeaways Failing to find support around ~99.131, a weaker U.S. dollar (DXY) made way for massive […]
The post Silver (XAG/USD) Cools from 7-Month High on Profit Taking, Remains Bullish appeared first on Action Forex.
US Indices, which have started the day mixed, have appreciated this morning’s JOLTS report. The data came out better than expected, with 7,391M Job Openings vs 7,200 Expected, a rise of 191,000 on the month. This data set is still proving the strength of US Data amid geopolitical uncertainties. Sentiment is positive throughout markets as […]
The post S&P 500 Approaches 6000 Ahead of NFP appeared first on Action Forex.
NZDUSD: ⬇️ Sell NZDUSD reversed from the resistance zone Likely to fall to support level 0.5900 NZDUSD currency pair recently reversed down from the resistance zone between the resistance level 0.6030 (which has been reversing the price from November), the upper daily Bollinger Band and the 61.8% Fibonacci correction of the downward impulse from September. […]
The post NZDUSD Wave Analysis appeared first on Action Forex.
The dollar is caught in a push and pull mood in the first two days this week, making it tough to find much conviction thus far. Trade uncertainty continues to be something to note but there are positive murmurs as Trump might not go all ballistic as he did in April. In any case, we’ll just have to wait and see. After the gains in the dollar and stocks yesterday, we’re seeing a more subdued mood today.
The ranges among dollar pairs are leaving a lot to be desired, with less than 0.1% change across the board for now. That makes for a quieter approach to European trading later. And with little on the agenda in the session ahead, that could make for a slower and more muffled session in general.
Things should pick up a bit more as we get to US trading though, with there being the ADP employment roulette report.
Looking elsewhere, S&P 500 futures are down 0.1% while gold is marginally higher by 0.2% to $3,359 currently.
This article was written by Justin Low at www.forexlive.com.
BoC is widely expected to leave interest rate unchanged at 2.75% for the second consecutive meeting today. While Q1 GDP surprised to the upside at 2.2% annualized, the growth was heavily front-loaded by export activity as US buyers rushed to stockpile Canadian goods ahead of impending tariffs. That one-off boost is unlikely to alter the […]
The post BoC to hold rates at 2.75%, maintain dovish bias appeared first on Action Forex.
Japan’s private sector lost steam in May as final PMI Services reading slipped to 51.0 from April’s 52.4, while Composite PMI declined to 50.2 from 51.2. The data point to only marginal growth in overall activity, with a slowdown in services combining with a mild deterioration in manufacturing output. S&P Global’s Annabel Fiddes noted that […]
The post Japan’s PMI composite finalized at 50.2, growth momentum falters appeared first on Action Forex.
Australia’s GDP expanded just 0.2% qoq in Q1, falling short of expectations for 0.4% qoq growth. On an annual basis, GDP rose 1.3% yoy. However, GDP per capita declined by -0.2% qoq, marking a renewed contraction in individual economic output. The ABS noted that severe weather disrupted key sectors including mining, tourism, and shipping, while […]
The post Australia’s GDP grows only 0.2% qoq in Q1, as weather and public investment drag appeared first on Action Forex.
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