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In focus today In the euro area September consumer confidence is due for release. Consumer confidence has been on an upward trend but remains below the historical average and consumer spending is weak. As real incomes are rising and the labour market remains strong, we expect confidence to keep improving, which should support consumption especially […]

The post Hawkish Market Surprises from Norges Bank and Bank of England appeared first on Action Forex.

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21/03/2024

WTI Crude Oil Futures Slip from 4-Month Peak

WTI crude oil looks positive despite the latest drop 20- and 200-day SMAs post bullish cross MACD and RSI show positive signs WTI crude oil futures are easing after the climb towards the new four-month high of 83.11 but the broader outlook remains bullish, especially after the rally above the 80.00 round number. According to […]
14/03/2024

WTI: Oil Prices Continue to Rise on Brighter Demand Outlook

WTI oil price rose further on Thursday, extending gains above psychological $80 barrier and looking for the first daily close above this level since Nov 6. Near-term bullish sentiment improved after the latest International Energy Agency’s report showed an upward revision to demand growth forecasts and cut in 2024 supply forecast. The data brightened oil’s […]
10/07/2024

NZDUSD Tumbles After RBNZ’s Decision

NZDUSD finds support at 200-day SMA Prices have been heading lower over the last month Stochastics and RSI keep downside move NZDUSD is posting notable losses after the RBNZ’s policy decision to leave interest rates unchanged at 5.5%. The pair is pausing its decline near the 200-day simple moving average (SMA) at 0.6070 and the […]