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The Euro is consolidating in early Thursday, following a sharp fall on Wednesday (the pair was down 0.5% in the biggest daily loss since Apr 30), driven by fresh risk aversion. Bears found a footstep above strong supports at /1.0790/80 zone (top of thick daily cloud / 200DMA / Fibo 38.2% of 1.0601/1.0895 rally) and […]

The post EUR/USD: Bears Face Strong Headwinds at Key Support Zone appeared first on Action Forex.

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13/06/2024

US CPI Lower Than Expected, While FOMC Signals Only One Rate Cut in 2024

In focus today Today Norges Bank (NB) will publish the regional survey for Q2, where we expect that the respondents (corporates) will be somewhat more optimistic than in February. The aggregated production index for both the current (Q2) and the next quarter (Q3) will probably end up in the range of 0.2-0.3%, which will be […]
02/05/2024

May FOMC: Stalling in Inflation Leaves FOMC Stalling for Time

Summary As was widely expected, the FOMC left the fed funds target range unchanged at 5.25%-5.50% at the conclusion of its May meeting. It was evident, however, that the Committee believes inflation’s return to its 2% objective likely has a somewhat longer and uncertain journey ahead. In the post-meeting statement, the Committee noted that “in […]
14/03/2024

Greenback’s Performance Has Been Lackluster Recently

Markets US Treasuries extended their post-CPI sell-off yesterday in absence of eco data or other news. US yields added 2.8 bps (30-yr) to 5.3 bps (3-yr). The US 2-yr yield is gradually moving back in the direction of the YTD high at 4.74%. Longer tenors show a similar dynamic but there’s some more ground to […]