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Action Forex

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Action Forex

21.12.2024

WTI Oil Drifts Lower But Strong Support Below - Action Forex

WTI Oil (Cash) is headed for a fifth straight day of declines, slipping below 69.00 and widening the gap with the Ichimoku cloud. The technical indicators are bearish, but to a varying extent. The stochastic oscillator is diving towards the oversold region, suggesting that an upside correction could be on the cards soon. However, the MACD is only marginally negative and remains above its red signal line, pointing to some bullish support as well as scope for greater losses.

Action Forex

21.12.2024

U.S. Personal Income Growth Continues, While Spending Picks Up Pace in November - Action Forex

Consumers kept their purse strings open last month, and it seems that many were on the lookout for new car. This could partially reflect the post-hurricane replacement demand. For the fourth quarter a whole, consumer spending looks to increase by 3%, only a small downshift from 3.5% pace seen in Q3. Looking at the year as whole, U.S. consumers are finishing 2024 in strong financial shape thanks to wealth gains in equity markets and continued job gains. As a result, spending growth outpaced income for much of this year (with October being a notable exception).

Action Forex

21.12.2024

US PCE inflation ticks up to 2.4% yoy, core unchanged at 2.8% yoy - Action Forex

US headline PCE price index rose 0.1% mom in November, below expectation of 0.2% mom. Core PCE price index (excluding food and energy) also rose 0.1% mom, below expectation of 0.2% mom. Prices for goods increased less than 0.1% mom and prices for services increased 0.2% mom. Food prices increased 0.2% mom and energy prices also increased 0.2% mom.

Action Forex

21.12.2024

Canada's retail sales rises 0.6% mom in Oct, unchanged in Nov - Action Forex

Canada's retail sales rose 0.6% mom to CAD 67.6B in October, above expectation of 0.4% mom. Sales were up in five of nine subsectors and were led by increases at motor vehicle and parts dealers.

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