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US CPI data and Fed to determine the dollar’s fate Will the BoJ signal that another rate hike is looming? Pound traders await UK employment and GDP numbers RBA hike bets shrink ahead of AU jobs and China CPI data Mind the dots With US inflation resuming its downtrend in April and the ISM manufacturing […]

The post Week Ahead – Fed and BoJ Decide on Monetary Policy appeared first on Action Forex.

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07/08/2024

GBPUSD Drops Out of Bullish Channel

GBPUSD trims more gains after bearish channel breakout Technical signals remain negative; support at 1.2670 GBPUSD bears powered up on Tuesday with scope to fight the 200-day simple moving average (SMA) and the support trendline from the 2022 low at 1.2670, which triggered the April-July bull trend. Notably, the 50% Fibonacci retracement of this upleg […]
15/04/2024

Crypto Let Off Steam Rather than Start a Reversal

Market picture It was a non-boring weekend for the cryptocurrency market. Market sentiment swung sharply towards buying the dollar and selling stocks, gold, and cryptos on Friday afternoon. Also operating over the weekend, the crypto market accelerated its decline on Saturday, with capitalisation falling to $2.2 trillion (-18% from Monday’s peak) but began to recover […]
20/12/2023

WTI: Oil Price Rises Further on Growing Supply Disruption Concerns

WTI oil price continues to trend higher, extending recovery from Dec 13 low ($67.70) into fifth consecutive day. Growing tensions on several attacks on ships in the Red Sea, which prompted major shipping companies to reroute, added to fears about supply disruption amid existing conflict in Palestine and further lifted oil prices. Recovery has so […]