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The euro has edged lower ahead of today’s rate annoucement from the European Central Bank. In the European session, EUR/USD is currently trading at 1.0396, down 0.23% on the day. ECB projected to lower rates to two-year low The European Central Bank is widely expected to deliver a 25-basis point rate cut at today’s meeting, […]

The post ECB Expected to Trim Rates, Euro Edges Lower appeared first on Action Forex.

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23/10/2024

AUD/CAD Technical: BoC Jumbo Cut of 50 bps May Have Already Been Fully Priced In

The Canadian dollar has weakened against most major currencies (except against the JPY) in the past four weeks. Short-term FX positioning suggests that the expected BoC’s 50 bps cut may have been fully priced in. Watch out for a potential short-term mean reversion decline in the AUD/CAD cross pair. In a few hours’ time today, […]
03/12/2024

Altcoin Season Kicks off as Bitcoin Hits Ceiling

Market Picture The cryptocurrency market is up 0.1% over the past 24 hours, but a closer look reveals that the market has hit resistance at $3.50 trillion twice since the beginning of the week, pulling back to the current $3.46 trillion. While Bitcoin remains range-bound and unable to break through $100,000, it’s altcoin season, according […]
23/08/2024

NZ Dollar Slips Ahead of Retail Sales, Powell’s Speech

The New Zealand dollar is drifting on Thursday. In the North American session, NZD/USD has fallen to 0.6132 at the time of writing, down 0.41% on the day. The New Zealand dollar continues to have its way with its US counterpart and has soared 4% since July 29. New Zealand retail sales expected to slide […]