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In focus today and over the weekend Today, focus turns to the German Ifo growth indicator for October. The Ifo survey is more extensive than the PMIs and it will be very interesting to see if it mirrors the recent uptick observed in the PMIs yesterday. In the euro area, September data on credit growth […]

The post Weak PMIs Keep ECB Jumbo Cut Speculation Alive appeared first on Action Forex.

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Divergence Between Euro and US Dollar Outlook

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USDCAD Still Near the Almost 3-Month High

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09/04/2024

AUD/USD: Aussie Dollar Keeps Bullish Bias ahead of US Inflation Report

AUDUSD is trading within a narrow range on Tuesday morning but keeps slight bullish bias following Monday’s 0.5% advance and a positive signal on daily close above 0.6597 (100DMA / Fibo 61.8% of 0.6675/0.6480 bear-leg). Aussie dollar was boosted by rise in iron ore, but markets are likely to reduce the speed until release of […]
29/03/2024

GBP/USD: Cable Moves Within Extended Range Ahead of Key US Data

Cable remains in extended sideways mode, with a narrow range on holiday-thinned markets on Good Friday. Near-term action is ranging between 200DMA (1.2588) and thin daily cloud (spanned between 1.2634 and 1.2663), with predominantly bearish daily studies keeping the downside at risk, although the pair is still looking for stronger direction signal. Markets await release […]
10/05/2024

Elliott Wave Expects AUDUSD to Break Higher

Short Term Elliott Wave in AUDUSD suggests the pullback to 0.636 ended wave (2). The pair has turned higher in wave (3) with internal subdivision in 5 waves in lesser degree. Up from wave (2), wave (i) ended at 0.6432 and pullback in wave (ii) ended at 0.6407. The pair then extended higher in wave […]