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The BoE meeting concludes on Thursday Market expects a 25bps rate cut Rhetoric and voting pattern matter Pound could suffer from a dovish rate cut BoE meets on Thursday The Bank of England will hold its penultimate meeting for 2024 on Thursday, a few hours ahead of the Fed’s gathering. With the market anxiously awaiting […]

The post A BoE Rate Cut Expected But Overall Rhetoric Matters appeared first on Action Forex.

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08/07/2024

USDJPY Finds Strong Support at Key Fibo Zone

USDJPY hits key Fibo retracement level But momentum indicators still point to weakness A break above 161.35 could pave the way towards 161.65 A slide below 160.35 may invite more bears USDJPY traded higher today after it triggered some buy orders near the 160.35 barrier and the 23.6% Fibonacci retracement level of the short-term uptrend […]
25/10/2024

EUR/USD 1.0778 Lives to Fight Another Day

Markets EUR/USD 1.0778 lives to fight another day. The technical support level survived October PMI surveys. Disappointing French numbers forced a test early on European dealings, but a better German reading and a close to consensus EMU gauge (2nd consecutive month below neutral 50-level though) balanced things out. Investors took it as a first sign […]
29/10/2024

Swedish GDP and US Labour Market Data in Focus Today

In focus today In the US, we receive JOLTs labour turnover, which is a key measure of labour demand for the Fed. The October consumer confidence survey is also due for release. In Sweden, at 08:00 CET, the GDP indicator for Q3 is released. The first two quarters presented a mixed growth picture; the Q1 […]