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EUR/USD gains ground amid upbeat US Dollar. German Unemployment Change reduced to 5K from 22K prior. The seasonally adjusted Unemployment Rate remained consistent at 5.9%. The improved US Treasury yields are reinforcing the strength of the Greenback. EUR/USD struggles to retrace its recent losses registered in the previous session, trading near 1.0940 during the European session […]

The post EUR/USD Edges Down to Near 1.0940 after German Employment Data, Focus Shifts to US Data appeared first on Action Forex.

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15/12/2023

British Pound Steady after Mmixed PMIs

UK Services PMI accelerates, Manufacturing PMI declines Bailey’s dampens rate cut expectations The British pound is steady on Friday, after posting gains of 1.1% a day earlier. In the European session, GBP/USD is trading at 1.2767, up 0.03%. UK PMIs a mix British PMIs were a mixed bag in December. The Manufacturing PMI eased to […]
30/05/2024

EUR/USD: Bears Face Strong Headwinds at Key Support Zone

The Euro is consolidating in early Thursday, following a sharp fall on Wednesday (the pair was down 0.5% in the biggest daily loss since Apr 30), driven by fresh risk aversion. Bears found a footstep above strong supports at /1.0790/80 zone (top of thick daily cloud / 200DMA / Fibo 38.2% of 1.0601/1.0895 rally) and […]
12/01/2024

Market Continues to Price in Aggressive Rate Cuts for 2024

The 2024 market theme remains for several rate cuts from most central banks Fed is seen cutting rates six times despite the November Presidential election ECB and the BoC to cut first; RBA the last one to join the club BoJ is finally seen hiking for the first time since 2007 – will it prove […]