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GBPUSD’s bull run slows down near a familiar resistance area Some stability is likely; sellers need a close below 1.3188 to gain control GBPUSD opened the week with marginal losses after its almost uninterrupted two-week rally was rejected near the key resistance trendline at 1.3229 for the third time. While the bulls are trying to […]

The post GBPUSD: Is the Next Downturn Approaching? appeared first on Action Forex.

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07/09/2024

Weekly Economic & Financial Commentary: Rate Cut at Sept. 18 FOMC Meeting, 25 bps or 50 bps?

Summary United States: Rate Cuts Incoming The August jobs report did little to settle the debate if a 25 bps or 50 bps rate cut is coming this month. We’re sticking with 50 bps, but acknowledge 25 bps as a real possibility. Firms continued to hire in August and the economy kept expanding. Attention is […]
13/06/2024

Dollar Pared Some of Sharp Losses in Wake of Fed

Markets The Fed kept the policy rate unchanged at 5.25-5.5% yesterday. The expected decision was accompanied by a statement that mentioned “modest” further progress towards the 2% inflation objective instead of the “lack” of it in the May edition. It’s the only change and feels like a post-CPI addition. The dot plot entailed bigger changes […]
13/12/2023

BoE Policy Decision: Keep It Neutral As It Can Go

BoE to keep rates steady at 5.25% and stick to existing guidance Avoid rate cut signals as no press conference or new projections scheduled No rate cut surprises expected; UK economy is still resilient The Bank of England (BoE) will review its monetary policy during the last meeting of the year on Thursday after the […]