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The minutes from the latest FOMC meeting showed yesterday that ‘several’ Federal Reserve (Fed) officials were ready to cut rates at the June meeting, while ‘vast majority’ of them were convinced that September would be a good time to start cutting. Some officials were concerned that cutting the rates prematurely could risk reversing the progress […]

The post A Questionable Reaction to the Big BLS Revision appeared first on Action Forex.

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16/09/2024

Big Week for Central Banks

We are heading into a busy week with major central bank decisions. The Federal Reserve (Fed), the Bank of England (BoE) and the Bank of Japan (BoJ) will announce their latest policy verdicts this week. The Brits and the Japanese are expected to remain seated on their hands and the Fed will certainly lower its […]
11/01/2024

Technical Outlook and Review

DXY: The DXY chart currently exhibits a bearish overall momentum, indicating a weakened US Dollar. In this scenario, there’s potential for a bearish continuation towards the 1st support level. The 1st support at 101.77 is significant for several reasons. It is categorized as an overlap support and coincides with the 50% Fibonacci Retracement level, making […]
08/04/2024

BTC/USD Analysis: Bitcoin Price Rises Ahead of Halving

The halving (reduction of block mining rewards) is expected to occur on April 19-20. Theoretically, Bitcoin mining will become less profitable, leading to a reduction in coin supply. Given unchanged demand, this should drive up the BTC/USD price. Ripple CEO Brad Garlinghouse has forecasted that the cryptocurrency market cap will double by the end of […]