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The U.S. dollar ends the year on a strong note, hitting two-year highs at 108.45. The Fed expects a 50-point rate cut for the full year 2025 versus 4 cuts one quarter earlier, citing higher inflation forecasts and a stubbornly strong labour market. This fundamental change has given a new impetus to the dollar’s rise […]

The post US Dollar Ends the Year on a Strong Note appeared first on Action Forex.

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19/08/2024

News of the Week (August 19— August 23): GBPCAD Detailed Analysis

Keep your eyes on GBPCAD—new trading prospects are emerging! The GBPCAD currency pair, representing the exchange rate between the British pound and the Canadian dollar, is the most critical indicator of economic interaction between the UK and Canada. The Canadian dollar is heavily influenced by fluctuations in commodity prices, particularly oil, due to Canada’s status […]
28/08/2024

Euro Declines Ahead of German Inflation, US GDP

The euro is sharply lower on Wednesday. In the European session, EUR/USD is trading at 1.1116 at the time of writing, down 0.60% on the day. There are no tier-1 events on today’s data calendar but Thursday will be busy, with German CPI and US GDP. German CPI expected to ease Germany, the largest economy […]
30/08/2024

EURUSD Wave Analysis

EURUSD reversed from long-term resistance level 1.1150 Likely to fall to support level 1.1000 EURUSD currency pair recently reversed down from the major long-term resistance level 1.1150 (which has been reversing the price from the start of 2022). The resistance level 1.1150 was strengthened by the upper weekly Bollinger Band and by the 61.8% Fibonacci […]