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The Fed’s dovish attitude, for now, hasn’t extended too far into Europe. The Bank of England kept its key rate unchanged at 5.25%, with three of the nine members voting in favour of a quarter-point hike. In a commentary on the decision, the Bank of England emphasised that it is not yet certain that inflation […]

The post Bank of England Hawks Extend the Pound’s Rally appeared first on Action Forex.

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12/09/2024

NZD/USD Looking for a Reason to Recover: External Background May Help

NZD/USD is attempting to recover from yesterday’s decline on Thursday and is heading towards 0.6148. The pair came under downward pressure on 29 August, and since then its attempts to stabilise have not brought any tangible result. The ambiguous US inflation release has increased bets that the Federal Reserve will ease monetary policy very cautiously […]
02/05/2024

US: Manufacturing Slips Back into Contraction in April, But Price Pressures Pick Up

The ISM Manufacturing Index slipped back into contractionary territory in April, dipping to 49.2, from 50.3 in March. Even so, 9 of 16 industries reported growth in April – the same as in March. Demand softness was reflected by the new orders and new export orders sub-indices both flipping back into contraction, after pointing to […]
10/06/2024

Elliott Wave Analysis: USD/CHF Bounces from the sSupport

USDCHF is coming higher this year, after breaking some important trendline connected from 2022 highs on a daily chart, where a breakout would lead to higher prices within big triangle range. Looking at the 4-hour chart, it looks like pair is in a higher degree corrective setback after a completed five-wave rally and broken trendline. […]