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At the end of the week, the US dollar is hovering around an eight-week low against the euro, but trading activity remains subdued. Everyone is conserving energy ahead of this evening’s May employment data from the US. These reports are expected to provide more insight into the timing of the Federal Reserve’s monetary policy easing. […]

The post Market Awaits NFP Data: Euro/Dollar Consolidates appeared first on Action Forex.

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11/06/2024

Alarming UK Labour Market Data

Unexpected weakness in the UK labour market could signal an important turnaround in the economy and raise the urgency of monetary easing. The short-term impact on the Pound has been relatively limited, but the currency market has now adopted a wait-and-see approach ahead of Wednesday’s US news. This morning’s batch of data from the UK […]
19/03/2024

EURCHF Wave Analysis

EURCHF under bullish pressure Likely to rise to resistance level 0.968 EURCHF under the bullish pressure after the pair broke the key resistance level 0.9600 (which stopped the previous impulse wave i at the start of March). The breakout of the resistance level 0.9600 accelerated the C-wave of the active intermediate ABC correction (2) from […]
08/03/2024

Jobs Friday

Yesterday’s European Central Bank (ECB) meeting and Lagarde’s press conference went according to the plan. The ECB left its rates unchanged for the fourth straight meeting, lowered its inflation forecasts, predicted that inflation will reach the 2% target by next year and suppressed its growth forecast for this year. Still, Lagarde said that they aren’t […]