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Dollar cannot sustain Fed-fueled advance, will ISM data help? Reserve Bank of Australia could abandon its tightening bias Crucial data releases also from China, Canada, and New Zealand Fed warns against early rate cuts It was an eventful week in global markets. The spotlight fell on the Federal Reserve, which shot down expectations it would […]

The post Week Ahead – RBA Decision and US Data on the Menu appeared first on Action Forex.

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The Weekly Bottom Line: Resilient Labor Demand and A Patient Fed

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13/08/2024

GBP/USD Edges Higher as Wage Growth Hits Lowest Level in 2 Years

Unemployment rate fell to 4.2%, with a decrease in both short-term and long-term unemployment. UK wage growth slowed to its lowest level in two years, yet surpassed market expectations. Despite positive jobs data, BoE policymakers warn of potential inflation rebound in H2 2024, supported by a slight increase in grocery inflation. Cable edged higher but […]
16/07/2024

GBP/USD Faces Challenges in Breaking Through Key 1.3000 Level

GBP/USD struggles to break above the 1.3000 level despite softer US data and a dovish comment from Fed Chair Powell. UK inflation data will be crucial in determining whether GBP/USD can break above 1.3000. Technical analysis suggests GBP/USD may struggle to break above 1.3000 due to option barriers and overbought RSI. Cable is hovering just […]
29/11/2023

NZDUSD Surges to Fresh Almost 4-month Peak

NZDUSD posts aggressive bullish rally Price penetrates 200-day SMA to the upside Technical signals are strongly bullish NZDUSD skyrocketed to a fresh almost four-month high above the 0.6200 round number earlier today. The strong rebound off the 0.5770 barrier took the market well above the short-term simple moving averages (SMAs) and more importantly above the […]