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Key Highlights GBP/USD started another increase from the 1.3000 support. It cleared a key bearish trend line with resistance at 1.3180 on the 4-hour chart. The UK CPI could rise by 2.2% in August 2024 (YoY). Today, the Fed could reduce interest rates from 5.50% to 5.25%. GBP/USD Technical Analysis The British Pound found support […]

The post GBP/USD Bounces Back: Fed Rate Decision Looms Large Over Next Move appeared first on Action Forex.

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04/05/2024

Weekly Economic & Financial Commentary: Yen Falls to 34-Year Low, Prompting Possible BoJ Intervention

Summary United States: April Brings Signs of Cooling in Economic Growth Q2 began on a softer note. Employment growth was sturdy in April, but the 175K jobs added was the smallest gain since October. The below-consensus gain was accompanied by an increase in the unemployment rate, which rose to 3.9%. Meanwhile, an unexpected acceleration in […]
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All Eyes on Powell

Most European indices including the British big caps closed Monday’s session in the negative. The French CAC 40 underperformed its peers with a 0.63% loss in the session after an attempt to the highest level in almost a month on worries that a political gridlock in France would complicate the picture and make things slow […]
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Bitcoin and Ethereum in Eye of Storm?

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