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Brent crude oil prices fell below 73 USD per barrel on Friday, reflecting ongoing downward pressure. The market is poised to close the week with losses as a robust US dollar weighs heavily on commodity prices. This week, the US Federal Reserve signalled a measured approach to reducing borrowing costs in 2025, sending the US […]

The post Brent Oil Under Pressure Again: USD and China in Focus appeared first on Action Forex.

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06/12/2023

GBP/USD: Cable – Limited Correction Likely to Precede Fresh Rise, US Labor Data in Focus

Cable is holding within a tight range on Wednesday morning, as two-day pullback found a footstep on broken Fibo support at 1.2585, though stronger dollar and weaker than expected UK data continue to sour the sentiment. Traders await release of US labor data (ADP report is due later today and NFP on Friday) for fresh […]
12/07/2024

Market Analysis: GBP/USD Eyes 1.3000 While EUR/GBP Struggles

GBP/USD is gaining pace above the 1.2900 resistance. EUR/GBP declined and is now consolidating losses above the 0.8400 region. Important Takeaways for GBP/USD and EUR/GBP Analysis Today The British Pound is attempting a fresh increase above 1.2950. There is a key bullish trend line forming with support near 1.2910 on the hourly chart of GBP/USD […]
06/12/2023

USD/JPY: Bearish Momentum Remains Intact Despite Softer Tokyo CPI

Tokyo’s CPI for November slowed down further due to a recent drop in oil prices. Tokyo’s services prices accelerated to 3% y/y in November, its fastest pace since 1994. Japan’s latest consumer sentiment data for November also improved to its highest level since August 2023. A boost in consumer sentiment coupled with services inflation on […]