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The New Zealand dollar continues its ascent for the second consecutive session against the US dollar, resulting in the NZD/USD pair climbing to 0.6125. This increase is attributed to recent US economic data indicating slower-than-expected growth in Q1, suggesting the possibility of an interest rate cut by the end of the year. The market is […]

The post New Zealand Dollar Gains for Second Day Against US Dollar appeared first on Action Forex.

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24/07/2024

EUR/USD Pares Losses After Weak Eurozone PMIs

The euro edged lower on Wednesday but has recovered. In the North American session, EUR/USD is trading at 1.0860, up 0.07% on the day at the time of writing. Eurozone PMIs weaker than expected Eurozone PMIs can be viewed as monthly report cards for the services and manufacturing services. The July PMIs decelerated and indicate […]
02/07/2024

EUR/USD Struggles to Maintain Gains Amid Mixed Economic Signals

The EUR/USD pair experienced a noticeable uptick yesterday, but failed to sustain its peak, settling at 1.0732 today. Early gains were buoyed by the initial outcomes from France’s parliamentary elections, which did not reflect the worst-case scenario, sparking a temporary surge in risk appetite and bolstering the euro. However, last evening’s economic indicators from the […]
04/01/2024

Gold Wave Analysis

Gold reversed from resistance level 2075.00 Likely to fall to support level 2016.00 Gold recently reversed down from the strong multi-month resistance level 2075.00 (which also stopped the earlier uptrend in March of 2023, as can be seen below). The downward reversal from the resistance level 2075.00 stopped the earlier minor impulse wave iii. Given […]