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The US Dollar (USD) is struggling to gain strength as it begins the last trading day of the third quarter. Investors are closely watching for inflation data from Germany and speeches from key Federal Reserve officials, including Chairman Jerome Powell, later in the day. On Friday, the USD Index fell to its lowest point in […]

The post GBPUSD & EURUSD Outlook appeared first on Action Forex.

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03/01/2024

USD/JPY Holds Positive Ground Above 142.00, Eyes on US PMI, FOMC Minutes

USD/JPY trades in positive territory for two straight days on Wednesday. The US final Manufacturing PMI for December came in weaker than expected, easing from 48.2 to 47.9. BOJ’s Ueda said that the possibility of the BoJ sustainably achieving the inflation target seems to be gradually rising. Investors await the final US ISM Manufacturing PMI […]
08/02/2024

Euro Doesn’t Give the Impression to be Able to Really Profit from (Temporary) USD Softness

Markets US and European bond yields both ‘rebounded’ 2-3 bps yesterday after Tuesday correction. YTD peak which came within reach after Monday’s strong US services ISM for now prove to be a too high hurdle. Fed Speakers (Kugler, Collins, Barkin, Kashkari) gave small nuances on the mantra that inflation is cooling, but that more evidence […]
26/09/2024

USDJPY Flirts With Short-Term Diagonal Line

USDJPY tries to surpass the 23.6% Fibonacci MACD and RSI gain momentum USDJPY is challenging the 23.6% Fibonacci retracement level of the down leg from 161.94 to 139.56 at 144.80, as well as the very short-term downtrend line, creating a bullish correction from the 14-month low of 139.56. The technical oscillators are currently mirroring the market’s […]