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In focus today From the US, October PCE data is due for release. PCE inflation is expected to remain close to past month’s pace in both headline and core terms, in line with the CPI data released earlier. October durable goods orders and revised Q3 GDP data will be released at the same time. In […]

The post No Surprises in FOMC Minutes appeared first on Action Forex.

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13/02/2024

GBP/USD: Limited Recovery Warns of Prolonged Sideways Mode

Cable ticked higher and hit new highest since Feb 2 in early Monday but was so far unable to sustain gains, keeping the price within congestion which extends into fourth straight day. A double Doji (Fri/Thu) signal indecision as daily studies are mixed and keep near-term price action between 200DMA (1.2564) and falling 10DMA (1.2638). […]
11/12/2024

US Small Business Optimism Soars

Small businesses have become more optimistic since the November election, as evidenced by an eight-point jump in the Small Business Optimism Index. There was a similar jump in 2016 following Donald Trump’s victory. The index jumped to 101.7, above its historical average of 98, with improvements in nine out of ten components (current inventory unchanged). […]
17/01/2024

GBP/USD At Risk of More Losses Below 1.2600

Key Highlights GBP/USD is struggling to stay above the key 1.2620 support zone. It broke a major bullish trend line with support at 1.2685 on the 4-hour chart. EUR/USD is showing a few bearish signs below 1.0900. Gold prices started a downside correction from the $2,060 resistance level. GBP/USD Technical Analysis The British Pound started […]