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US employment data will hit the markets on Friday at 13:30 GMT Another solid jobs report expected, supported by early indicators If so, dollar could receive a boost as investors unwind rate cut bets Dollar shines in early 2024 It’s been a phenomenal start to 2024 for the US dollar, which has already risen more […]

The post Nonfarm Payrolls to Decide Dollar’s Fortunes appeared first on Action Forex.

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02/05/2024

Powell Did Not Shake Markets

In focus today Today offers a light schedule in terms of tier-1 data releases. Most global markets that were off yesterday due to the International Labour Day are back today. In the US, we will keep an eye out for the preliminary Q1 productivity data. Surprisingly strong productivity growth contributed to the US economy’s stellar […]
25/01/2024

Technical Outlook and Review

DXY: The DXY (US Dollar Currency Index) chart currently demonstrates a bullish overall momentum, indicating strength in the US Dollar. Your analysis suggests that there is potential for a bullish continuation in the price towards the 1st resistance level. The 1st support level at 103.10 is considered significant as it represents an overlap support, indicating […]
12/03/2024

A Weak Dollar Is the Driver of Price Records for NASDAQ-100, BTC/USD, XAU/USD

Financial market participants expect an easing of the Fed’s monetary policy. The prospect of lower rates puts pressure on the value of the dollar, which in turn pushes up dollar-denominated assets. This contributed to the setting of record highs: → The price of BTC/USD exceeded 70k dollars per bitcoin → The price of XAU/USD exceeded […]