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The Australian dollar continues to have a quiet week. AUD/USD is trading at 0.6671 in the European session, up 0.17% today at the time of writing. With the Australian economy sputtering, it should come as no surprise that today’s confidence indicators pointed downward. Westpac consumer confidence change declined 0.5% m/m in September, falling from 85.0 […]

The post AUD/USD Shrugs After Weak Confidence Data appeared first on Action Forex.

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07/03/2024

USD/CAD Analysis: Canadian Dollar Strengthens after Bank of Canada Decision

The Bank of Canada has decided to keep interest rates at 5.0% for the fifth time in a row, it announced yesterday, as it continues to look for clearer signs that inflation is moving closer to the bank’s 2% target before considering rate cuts. According to Bank of Canada Governor Tiff Macklem: → the Bank […]
25/07/2024

Crude Oil Prices Continue to Fall, USD/JPY Tumbles

Key Highlights Crude oil prices started a fresh decline below the $80.00 support. A connecting bearish trend line is forming with resistance at $78.80 on the 4-hour chart. USD/JPY declined heavily below the 155.50 support. The US Gross Domestic Product could grow 2% in Q2 2024 (Prelim). Crude Oil Price Technical Analysis After a close […]
22/08/2024

Dollar Index Ooutlook: Bears Take a Breather Ahead of Speech of Fed Chair Powell

The Dollar Index ticks higher in early European trading on Thursday, from new lowest level since Dec 23, hit after release of FOMC July policy meeting. Minutes showed that the US policymakers remain on track for rate cut in September, as inflation eased and significant signs of weakness in the labor market, further support the […]