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The GBPAUD pair represents the exchange rate between the British Pound and the Australian Dollar, serving as a crucial metric of economic interaction between the United Kingdom and Australia. Monetary policy changes, economic reports, and political developments heavily influence the GBP. In particular, it’s sensitive to European changes, given the UK’s significant economic ties to […]

The post Instrument of the Week (June 24—28): GBPAUD Outlook appeared first on Action Forex.

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USD/JPY Analysis: Rate Rises Above 159.9 Yen per Dollar

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American Apathy Supports Oil

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24/07/2024

Yen Extends Its Comeback Supported by strong Japan Jibun Services PMI

Markets In a session with few important data core bonds remained well bid, Bunds outperforming Treasuries. German yields declined between -11.6 bps (2-y, benchmark change) and -4.5 bps (30-y) in a bull steepening move. Investors apparently stay confident that the ECB will able to continue its easing cycle as of September even as June EMU […]
05/02/2024

S&P 500 Wave Analysis

S&P 500 broke key resistance level 4930.00 Likely to rise to resistance level 5000.00 S&P 500 index rising inside the minor impulse wave 3 which previously broke above the key resistance level 4930.00 (which stopped the previous minor impulse wave i at the end of last month). The breakout of the resistance level 4930.00 accelerated […]
10/01/2024

Technical Outlook and Review

DXY: The DXY (US Dollar Index) chart currently shows a neutral overall momentum, suggesting a lack of strong directional bias in the US Dollar. As a result, there is potential for price to fluctuate between the 1st support and 1st resistance levels. The 1st support at 101.77 is considered significant as it aligns with an […]