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In focus today Today we get PMIs out of the big Western economies. In the euro area, we expect continued modest contraction in the service sector while the downward trend in manufacturing becomes gradually less steep. We will also keep an eye on the price indices, which moved higher in November. Particularly the IFO survey […]

The post Norges Bank Defies the Tide appeared first on Action Forex.

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25/07/2024

Analysis of USD/JPY: Yen Strengthens by 5.5% Against US Dollar in 2 Weeks

On Thursday, 11 July, the USD/JPY exchange rate was above 161, and today it is below 153. According to Reuters, this could be attributed to effective intervention by the Bank of Japan. While intervention was anticipated when the yen weakened to extreme levels not seen since 1983, Tokyo authorities were cryptic in their comments, maintaining […]
18/06/2024

GBPUSD Falls to a Fresh 1-Month Low

GBPUSD declines to its lowest level since May 17 Momentum indicators ease but remain in positive zones GBPUSD was in a steady recovery following its bounce off the 2024 bottom of 1.2298, with the price violating both the 50- and 200-day simple moving averages (SMAs). In the near term, although the pair surged to a three-month high […]
12/01/2024

Week Ahead – China GDP and UK December CPI Reports Eyed Amid Rate Cut Frenzy

China reports Q4 GDP data on Wednesday; is a rebound in store? CPI numbers due in UK, Japan and Canada Retail sales to be the main focus in the US Is China’s recovery getting back on track? The Chinese economy suffered several wobbles in 2023, as the property crisis went from bad to worse. Markets […]