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In focus today Today, focus is on the euro area PMIs for September. The service PMIs got a ‘golden boost’ from the Olympics in France in August, which likely reversed in September. While we expect overall momentum in services activity remained broadly unchanged compared to August, we expect the PMIs to decline due to the […]

The post Focus on Euro Area and US PMIs Today appeared first on Action Forex.

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22/07/2024

EUR/USD Outlook: Correction So Far Limited But Risk of Deeper Pullback Still Exists

EURUSD edges higher in European trading on Monday as bears are taking a breather after a two-day pullback from a multi-week high (1.0948). Rising 10DMA and Fibo 23.6% of 1.0666/1.0948 (1.0881) contained dips for now, signaling a scenario of shallow correction before larger bulls regain control. Talks about possible start of easing monetary policy as […]
30/08/2024

Cliff Notes: Capacity is Paramount

Key insights from the week that was. In Australia, the latest Monthly CPI Indicator reported an easing in both headline and underlying (trimmed mean) inflation, from 3.8%yr and 4.1%yr in June to 3.5%yr and 3.8%yr in July respectively, broadly in line with expectations. The onset of cost-of-living relief measures were crucial to the latest step-down, […]
08/11/2024

Fed Powell Said Too Soon to Say How Trump Administration’s Policies Would Reshape Outlook

Markets The barrage of central bank meetings in Sweden, Norway, the Czech Republic and the UK ended with a decision in the US. The Fed delivered the expected 25 bps cut to 4.5-4.75%. The new statement featured little changes compared to September and guidance for future decisions, if any, was limited. Chair Powell in the […]