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The US currency is gearing up for the most important trading session of the current week, and possibly even the month. Today, the US Consumer Price Index (CPI) data for May will be released. Additionally, the Federal Reserve (Fed) has a meeting scheduled today where the base interest rate will be announced, along with the […]

The post Inflation Data and Fed Verdict Could Set Dollar’s Summer Trend appeared first on Action Forex.

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03/05/2024

EURJPY Wave Analysis

EURJPY under strong bearish pressure Likely to fall to support level 163.10 EURJPY under the strong bearish pressure after the price reversed down from the major multi-year resistance level 170.00 (which started the sharp weekly downtrend back in 2007). The resistance level 170.00 was strengthened by the upper daily Bollinger Band and by the resistance […]
05/01/2024

Week Ahead – Market Spotlight Turns to US CPI Inflation

US CPI inflation is the next big test for the US dollar Yen traders turn to Tokyo CPIs and wages for BoJ exit hints China’s inflation and trade numbers to impact broader sentiment UK monthly GDP on tap amid recession fears Will the US CPIs corroborate the market’s implied Fed rate path? The US dollar […]
12/09/2024

Euro Flat Ahead of ECB Decision

The euro continues to show limited movement and is almost unchanged on Thursday. EUR/USD is trading at 1.1010 in the North American session at the time of writing. ECB expected to deliver 25 bps cut The European Central Bank meets later today and the markets are expecting a rate cut of 25 basis points, which […]