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Euro recovers after dip The euro fell as much as 0.30% earlier but has recovered and edged higher. In the North American session, EUR/USD is trading at 1.0666, up 0.21%. The euro remains under pressure from the strong US dollar. Last week, EUR/USD fell 1.8% and dropped as low as 1.0601 this week, its lowest […]

The post Euro Edges Higher, ECB Eyes June Cut appeared first on Action Forex.

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13/12/2023

UK Needs Lower Rates and a Weaker Currency

A series of macro statistics continue to be published to help build a picture of the economy ahead of the Bank of England’s final decision on Thursday. The economy is reported to have lost 0.3% for October, pulling back in volume to July levels. This is a wake-up call from industrial production and construction, which […]
13/05/2024

Brent Crude Oil Faces Downward Pressure Amid Demand Uncertainties

The price of Brent crude oil is currently experiencing a downturn, trading around 82.55 USD per barrel this Monday. The primary concern affecting the market today is the uncertainty surrounding demand levels, exerting significant pressure on the commodity. Recent statements from representatives of the US Federal Reserve have led to expectations that interest rates may […]
19/02/2024

Forex and Cryptocurrencies Forecast

EUR/USD: A Week of Mixed Data The macroeconomic statistics released last week were mixed in both the United States and the Eurozone. As a result, EUR/USD failed to break through either the 1.0700 support or the 1.0800 resistance, continuing to move within a narrow sideways channel. The US dollar received a strong bullish impulse on […]