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We had a roller-coaster month of May in terms of central bank expectations. The month began with the Federal Reserve’s (Fed) decision to hold the interest rates steady, and Jerome Powell saying that the Fed’s next move will probably NOT be a rate cut. The latter had sent the markets rallying with enthusiasm. Then, the […]

The post It’s Been a Roller-Coaster Month appeared first on Action Forex.

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09/01/2024

Dollar and Euro Keep Each Other Balanced

Markets The recent core bond yield recovery ran into resistance yesterday and that had knock-on effects on other markets. Equity markets in particular enjoyed a nice run. The EuroStoxx50 ended about 0.5% higher but that followed a 1% intraday rise. The tech-heavy Nasdaq on Wall Street posted 2% gains. As for yields, they finished 1-2.7 […]
29/01/2024

EUR/USD At Risk of Fresh Lows Below 1.0800

Key Highlights EUR/USD is struggling to start a recovery wave above 1.0920. A major bearish trend line is forming with resistance near 1.0900 on the 4-hour chart. GBP/USD is struggling to recover above the 1.2760 resistance zone. Crude oil prices climbed higher above the $76.50 resistance. EUR/USD Technical Analysis The Euro attempted a minor increase […]
13/12/2023

WTI Oil: Hits the Lowest Levels in Nearly Six Months Ahead of FOMC Decision

WTI oil price hit new multi-month low on Wednesday morning, in extension of Tuesday’s nearly 4% drop which fully reversed recovery of past three days. Larger bears regained full control after limited correction and signal continuation of broader downtrend from 2023 peak ($95.00, posted on Sep 28). Higher than expected US inflation numbers for November […]