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Swiss CPI Slips to 0.4% in July on Lower Fuel and Airfare Costs
Switzerland’s CPI fell -0.1% mom in July, pulling annual inflation down to 0.4% from 0.5% in June, according to the Federal Statistical Office. The decline was largely driven by lower prices for air transport, diesel and petrol, while seasonal discounts also pushed clothing and footwear prices lower. Despite the softer headline reading, inflation remained positive […] The post Swiss CPI Slips to 0.4% in July on Lower Fuel and Airfare Costs appeared first on ActionForex.
Greek LNG Ship Safely Clears Hormuz After Maritime Incident
A Greek-owned liquefied natural gas carrier was involved in an “incident” in the Strait of Hormuz at the end of last week while exiting the waterway, the owner company said in a statement, as quoted by Reuters. The vessel is stable, and the crew is safe, Gas Log said, without specifying the nature of the incident. “Gas Log LNG Services immediately activated their emergency plan, notified all relevant authorities, and is currently assessing the condition of the vessel and assure the safety of...
Oil Lower After Trump Says Iran Talks Will Resume
Oil Lower After Trump Says Iran Talks Will Resume In focus today In the US, ISM manufacturing index will be released for July. In the euro area, focus will be on the final July manufacturing PMIs, followed by the final services PMIs on Wednesday. Markets will also be eying developments between the US-Iran as negotiations […] The post Oil Lower After Trump Says Iran Talks Will Resume appeared first on ActionForex.
Why Japan and US Confirm Intervention So Fast? Can USD/JPY Hold 155?
Washington and Tokyo abandoned decades of deliberate ambiguity by confirming their coordinated Yen intervention within hours, turning the confirmation itself into forward guidance for USD/JPY - and this week's battle to hold 155 will test whether that credibility strategy can work. The post Why Japan and US Confirm Intervention So Fast? Can USD/JPY Hold 155? appeared first on ActionForex.
Oil Prices Plunge 5% as Trump Halts Iran Strike Plans
Oil prices fell sharply in early Asian trade on Monday after President Trump called off another round of military strikes on Iran, raising hopes that a diplomatic route to reopening the Strait of Hormuz and averting a broader regional conflict could be found. At the time of writing, West Texas Intermediate futures were trading at $79.77 per barrel, down 5.88%, while Brent futures had fallen to $83.47, down 5.07%. The most recent selloff comes after a very volatile July in which both benchmarks...
EUR/USD Builds on Gains as Bulls Eye Higher Levels
Key Highlights EUR/USD started a fresh increase above 1.1500. It traded above a key bearish trend line with resistance at 1.1410 on the 4-hour chart. USD/JPY declined heavily below the 157.50 support zone. Gold seems to be consolidating above the $4,000 zone. EUR/USD Technical Analysis The Euro formed a base above 1.1350 against the US […] The post EUR/USD Builds on Gains as Bulls Eye Higher Levels appeared first on ActionForex.
Japan PMI Manufacturing Finalized at 54.5, AI Demand Offsets Middle East Headwinds
Japan’s manufacturing sector remained firmly in expansion territory in July, with the final S&P Global Manufacturing PMI edging down slightly to 54.5 from 54.8 in June. While the headline index eased marginally, it still pointed to a seventh consecutive month of improving business conditions as the sector entered the second half of the year with […] The post Japan PMI Manufacturing Finalized at 54.5, AI Demand Offsets Middle East Headwinds appeared first on ActionForex.
Australia Manufacturing PMI Finalizes at Six-Month High, Yet Inflation and Supply Risks Limit Confidence
Australia’s manufacturing sector showed further signs of recovery in July, with S&P Global Australia Manufacturing PMI finalized at 52.0, up from 51.5 in June and the strongest reading since January. The sector has now remained in expansion territory for four consecutive months, supported by renewed growth in both production and new orders as business conditions […] The post Australia Manufacturing PMI Finalizes at Six-Month High, Yet Inflation and Supply Risks Limit Confidence appeared first...
USD/JPY Falls on Intervention Rumors, Rates Unchanged
The Japanese yen strengthened significantly at the end of the week following reports of possible currency intervention by Japanese authorities, with speculation that the United States may also have supported the move. The Bank of Japan kept its interest rate at 1.00%, as expected, but said the economy is improving and inflation risks remain. This […] The post USD/JPY Falls on Intervention Rumors, Rates Unchanged appeared first on ActionForex.
GBPcad Elliott Wave : Forecasting the Path
Hello fellow traders. In this technical blog we’re going to take a quick look at the Elliott Wave charts of GBPCAD Forex pair published in members area of the website. Recently, GBPCAD formed a 3-wave pullback after a rally, a textbook example of an Elliott Wave bullish sequence. Price completed a clear 3-wave move down […] The post GBPcad Elliott Wave : Forecasting the Path appeared first on ActionForex.
Saudi Oil Reroutes Hit Capacity and Security Limits
When Iran shut down the Strait of Hormuz, Saudi Arabia quickly redirected its oil flows to the Red Sea. Now, that route has become dangerous because of the Houthi blockade, so Saudi is rerouting to Egypt-and two LNG tankers in the Egyptian port of Damietta just got struck by drones. OPEC’s number-one is running out of options to reroute its oil exports. In early March, after Iran effectively paralyzed vessel traffic via the world’s biggest oil chokepoint, every Gulf state that could redirect...
Tidal Energy Could Cover 57% of US Electricity Demand, NREL Study Finds
An Alaska-based tidal energy company is testing a new kind of small, modular turbine in the waters off of Massachusetts to try to take advantage of the United States’ vast and untapped tidal power potential. The turbine is being piloted in the strong tidal currents of Cape Cod to test the technology’s performance and durability in real-world conditions in order to explore whether it could be suitable for commercial scaling. Tapping into the country’s tidal energy potential could be a major game...