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The Australian dollar has steadied after pummeling the US dollar over the past two sessions. AUD/USD is trading at 0.6729 in the European session, down 0.04% on the day at the time of writing. RBA minutes: Rates will remain steady The RBA minutes from the meeting earlier this month reiterated that interest rates aren’t expected […]

The post Australian Dollar’s Rally Runs Out of Steam appeared first on Action Forex.

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25/04/2024

EURJPY Wave Analysis

EURJPY under bullish pressure Likely to rise to resistance level 167.00 EURJPY currency pair under the bullish pressure after the price broke through the key resistance level 165.00, which has been reversing the price from March. The breakout of the resistance level 165.00 accelerated the active impulse waves iii, 3 and (5). Give the strength […]
15/04/2024

U.S. Retail Sales Rebound in February

Retail sales rose by 0.7% month-on-month (m/m) in March, adding to February’s upwardly revised 0.9 % gain (previously 0.6%). The increase was higher than the consensus forecast calling for a more modest increase of 0.4% Trade in the auto sector was down -0.7% m/m, reflecting a decline at motor vehicle dealers (-0.9%), which was only […]
28/03/2024

GBP Consolidates Amid Concerns Over Economic Growth and Wage Trends

The GBP/USD pair is currently consolidating, hovering around the 1.2631 mark. This consolidation phase follows recent reports highlighting a slowdown in the expansion plans of British businesses for workforce and wage growth, raising concerns about future economic dynamics and inflationary pressures. A key report from the Lloyds Bank Business Barometer indicates a noticeable dip in […]