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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 […]

The post GBP/USD: Cable – Limited Correction Likely to Precede Fresh Rise, US Labor Data in Focus appeared first on Action Forex.

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22/12/2023

Week Ahead – Markets Wind Down for Holidays, Mind the Liquidity Gap

Quiet week ahead as FX markets enter holiday season Spotlight will fall mostly on some Japanese releases Most importantly, liquidity will be in short supply Yen awaits Bank of Japan signals Another devastating year for the Japanese currency is coming to an end. Despite mounting a comeback in recent months, the yen is still on […]
18/05/2024

Weekly Economic & Financial Commentary

Summary United States: Let’s Wait and See There was no shortage of economic data this week, but little did much to change the macro landscape. The April inflation data were a step in the right direction, and if sustained, we see the first rate cut coming in September. Next week: Existing Home Sales (Wed.), New […]
31/01/2024

USDJPY Sustains Its 2024 Bullish Setup

USDJPY consolidates its 2024 upleg between key boundaries Momentum indicators point lower, but trend signals remain positive FOMC policy announcement due at 19:00 GMT USDJPY has been facing difficulties in surpassing the 148.30 region for almost two weeks, but the 147.45 region, which coincides with the 61.8% Fibonacci retracement of the November-December downleg, kept bearish […]