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The Australian dollar hit its highest level since December 2023 against the US dollar, briefly topping 0.6800 following the release of the monthly inflation report. The Australian Bureau of Statistics reported that consumer price growth slowed to 3.5% y/y in July from 3.8% the previous month. Despite the slowdown, this indicator was higher than the […]

The post Aussie Tries to Escape from Down Under appeared first on Action Forex.

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Gold Price Outlook: $2500/oz Back in Focus as US Dollar Index (DXY) Bounces

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07/08/2024

USD/JPY Analysis: Rate Stabilizes After Tsunami

Less than a month ago, the rate was above 161 yen per US dollar. This week, it dropped below 142.5 yen (approximately -12%). The strengthening of the Japanese yen was driven by actions from the Bank of Japan and financial authorities: → Intervention to support the yen in mid-July; → An interest rate hike last […]
14/05/2024

USDX Elliott Wave: Forecasting the Decline from Equal Legs Area

Hello fellow traders. In this technical article we’re going to take a quick look at the Elliott Wave charts of Dollar Index, published in members area of the website. As our members know, USDX has ended the cycle from the December’s 2023 low. The index has recently given us bounce in a 3-wave pattern, when […]
12/08/2024

British Pound Calm ahead of UK Jobs Report

The British pound is drifting on Monday. GBP/USD is trading at 1.2768 early in the North American session, up 0.08% on the day. Wage growth expected to slide The UK releases the employment report for the three months to June and we could see signs of a cooling labour market. Annualized average earnings including bonuses, […]