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Markets US trading hours were only a little more entertaining than dull European ones yesterday. Minneapolis Fed Kashkari (non-voter this year) gave us some flavor on how a slightly more hawkish shift at last week’s policy meeting could have looked like. His guidance sounded familiar: “the most likely scenario is we sit here for an […]

The post Fed Kashkari Comments Didn’t Bring Life into Mostly Sideways Dealings appeared first on Action Forex.

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19/07/2024

GBP/USD: Cable Dips Further After Downbeat UK Retail Sales

Cable remains in red for the second consecutive day and extends pullback from new one-year high (1.3044). Weaker than expected UK retail sales increase pressure on sterling and add to bets for BoE rate cut in August (currently at 44%). Fresh bears broke below the floor of recent consolidation (around Fibo 23.6% of 1.2615/1.3044 upleg), […]
06/06/2024

AUDJPY Wave Analysis

AUDJPY reversed from support level 103.00 Likely to rise to resistance level 104.50 AUDJPY currency pair recently reversed up from the key support level 103.00 (which has been reversing the price from the middle of May). The support level 103.00 was strengthened by the lower daily Bollinger Band and by the 38.2% Fibonacci correction of […]
26/07/2024

Cliff Notes: Waiting for a Clear Signal

Key insights from the week that was. In Australia, a scant local data calendar left participants mulling over the possibilities for next week’s crucial Q2 CPI update. Our preview provides the detail behind our forecasts. Food, health and housing are expected to be the main contributors to our headline inflation forecast of 1.0% (3.8%yr); housing […]