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EURUSD continues to trend higher, with minimal negative impact from hotter than expected US PPI data (Jun 0.2% m/m vs 0.1% f/c and 0.0% in May). The latest bull-leg extends into third straight and day pressuring Thursday’s post US CPI spike high (1.0898) which guards pivotal barriers at 1.0919 (Jun 4), 1.0981 (Mar 8) and […]

The post EUR/USD Outlook: Bulls Hold Grip for Further Advance appeared first on Action Forex.

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16/09/2024

New Zealand Dollar Jumps as Services PMI Accelerates

The New Zealand dollar has started the new trading week with strong gains. NZD/USD is up 0.55% today, trading at 0.6191 in the European session at the time of writing. NZ Services PMI improves New Zealand’s services sector hasn’t shown growth in sixth months but there was a bit of positive news today as the […]
04/01/2024

Gold Price Forecast: XAU/USD Recovers Some Lost Ground Above $2,050, US ADP Report Eyed

Gold price recovers its losses around $2,060, up 0.14% for the day. The US ISM Manufacturing PMI came in at 47.4 vs. 46.7 prior, better than the expectation of 47.1. Market players will monitor the US ADP Employment Change and weekly Initial Jobless Claims on Thursday. Gold price (XAU/USD) bounces off the multi-day lows near […]
09/01/2024

U.K. Slowdown Could Hasten BoE Easing, But By How Much?

Summary The U.K. economic environment remains challenging, with Q3 GDP contracting slightly and the fourth quarter starting on a subdued note. Even with some improvement in consumer fundamentals and sentiment surveys, we believe a mild technical recession for the U.K. remains more likely than not. Stubborn persistence in U.K. price and wage inflation has started […]