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In focus today In the US, March ADP private sector employment and ISM Services are due for release. Yesterday’s labour market data supported the notion of labour markets gradually becoming more balanced. Hence, it will be interesting to see if today’s data corroborates this view. In the euro area, today’s focus is on euro area […]

The post All Eyes on Euro Area Inflation appeared first on Action Forex.

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The ‘Two or Three’ Cut Debate Heats Up

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NZDUSD Halts Decline at 23.6% Fibonacci

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07/05/2024

Australian Dollar Weakens as RBA Says No Rate Hikes Planned

The Australian dollar has lost ground on Tuesday. AUD/USD has dropped by 0.31%, trading at 0.6604 in the European session at the time of writing. RBA stays pat but wary of inflation There was no surprise as the Reserve Bank of Australia maintained the cash rate at 4.35% for a sixth straight time. The RBA […]
01/08/2024

S&P 500 index Wave Analysis

S&P 500 index reversed from support zone Likely to rise to resistance level 5585.00 S&P 500 index recently reversed up from the support zone located between the support level 5400.00, daily Bollinger Band and the 38.2% Fibonacci correction of the upward impulse from April. The upward reversal from this support zone formed the second daily […]
15/12/2023

USDCAD Plummets Below Crucial Trendline

USDCAD posts a fresh 2½-month low in today’s session Decline shows no signs of easing after break below 200-day SMA Momentum indicators are pointing at an overstretched retreat USDCAD has been constantly losing ground following its 13-month high of 1.3898 on November 11. Moreover, the pair dropped to its lowest levels in more than two months on […]