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Cable remains constructive in early Tuesday’s trading, after it was lifted by better than expected UK data on Monday and fading expectations for BOE rate cut in May. Fresh recovery was also underpinned by a double downside rejection at 200DMA (1.2591) on Fri/Mon however, bearishly aligned daily studies (momentum indicator is in the negative territory […]

The post GBP/USD: Bulls Gaining Traction After Double Rejection at 200-DMA appeared first on Action Forex.

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18/09/2024

USD/CAD Steady after Canada’s CPI Slips to 2%

The Canadian dollar is showing limited movement on Tuesday. Early in the North American session, USD/CAD is trading at 1.3601 at the time of writing, up 0.10% today. Canada’s CPI declines more than expected Canada’s inflation rate dropped to 2% in August. This was down sharply from 2.5% in July and below the market estimate […]
15/01/2024

EUR/USD Blocked in Tight Sideways Range

Markets Markets on Friday again took somewhat of a biased reading, both of the developments in the Middle East and the US eco data. The air strikes of the US and the UK against Houthi targets in Yemen (temporarily) propelled Brent oil above $80 p/b. However, the impact on other markets was a bit diffuse. […]
27/01/2024

Week Ahead – Fed and BoE Decisions, NFP Report, Eurozone GDP Incoming

It’s a packed week ahead with key central bank decisions and big data releases Will the Fed (Wednesday) and Bank of England (Thursday) signal rate cuts? US jobs report, Eurozone GDP & CPI will also be crucial Plus, Aussie inflation and an OPEC meeting Fed meets: more pushback or a cautious green light? The Federal […]