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In focus today Today’s main event will be Norges Bank announcing their policy rate decision. We expect Norges Bank to keep the policy rate unchanged at 4.50%. Developments since June have gone slightly in both directions, so we do not expect Norges Bank to send any new policy signals, but the risk is tilted towards […]

The post We Expect Norges Bank on Hold appeared first on Action Forex.

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29/07/2024

USD Analysis: Key Data Releases and Technical Outlook for the Week and intraday. EURUSD

Fundamental Analysis In the absence of high-impact data on Monday, July 29, 2024, market sentiment is focused on the key data releases for the week. First, the Federal Reserve’s interest rate decision is set for Wednesday. While no rate change is expected, any adjustment in the statement’s language could signal a more dovish or hawkish […]
23/05/2024

NZ First Impressions: Retail Trade, March Quarter 2024

Retail spending was much stronger than expected in the March quarter. However, the longer-term trend in spending remains weak. March quarter real retail sales (volumes): +0.5% (Prev: -1.8%) Westpac f/c: -0.5%, Market: -0.3% March quarter nominal sales level: +0.7% (Prev: -1.4%)  Annual changes (March 2024 vs March 2023) Nominal sales: 0.6% Volume of goods sold: […]

EUR/USD: Recovery Needs Further Positive Signals to Resume

The Euro regained traction and bounced 0.3%, after pullback from 1.0895 (May 16 high) was repeatedly rejected at 100DMA (1.0814), generating initial signal of a double-bottom and potential end of corrective phase. Fresh strength so far retraced over 50% of 1.0895/1.0812 pullback and on track complete bullish engulfing pattern on daily chart, which would reinforce […]