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The British pound has extended its losses on Tuesday. In the European session, GBP/USD is trading at 1.2799, down 0.26%. UK job market slows down The UK labor market has remained resilient despite elevated interest rates but is showing signs of cracks, based on today’s employment release. The unemployment rate rose to 3.9% in the […]

The post GBP/USD Loses Ground on Soft Employment Report appeared first on Action Forex.

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29/11/2023

Can USD Recover?

The EURUSD pair is currently making steady gains, approaching multi-month highs around 1.0960, driven by a weakened USD and Christine Lagarde’s somewhat hawkish remarks before the European Parliament. Minor housing data from the U.S., specifically New Home Sales for October, came in below expectations but didn’t significantly impact the pair. Lagarde, President of the European […]
09/08/2024

Cliff Notes: Varied Assessments of Risk

Key insights from the week that was. Following a tumultuous start to the week for global markets after a disappointing US employment print (see below), the RBA made clear their views on the risks the Australian economy faces. The RBA’s decision to leave the cash rate unchanged at 4.35% was not the focus for markets, […]
06/06/2024

EUR/USD: Bulls Hold Grip Ahead of Key Event – ECB Policy Decision

The Euro edged higher on Thursday morning and partially reversed a two-day pullback from new multi-week high (1.0915), but today’s action was so far choppy and lacking direction, as traders await the verdict from the ECB later today. The European Central Bank policymakers meet today and widely expected to deliver the first rate cut by […]