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US NFP data eliminate chances of another 50bps rate cut Spotlight turns to US CPI numbers for September PMI data corroborate the notion for sticky underlying inflation The data comes out on Thursday, at 12:30 GMT Bets of 50bps cut in November disappear The dollar’s engines received more fuel on Friday, with the catalyst this […]

The post As Investors Scale Back Fed Cut Bets, US CPI Data Enters the Spotlight appeared first on Action Forex.

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27/06/2024

Will Core PCE Inflation Persuade Fed to Cut Rates?

US core PCE inflation index could resume downtrend Fed may ask more evidence before cutting interest rates EURUSD trades near key support zone. Is it time for an upside reversal? Inflation could hit a new low in May Friday will see the release of the Fed’s favorite core PCE inflation measure at 12:30 GMT as the […]
02/02/2024

AUDCAD Examines Potential Pivot Point

AUDCAD continues to trim gains, reaches key support level Technical picture reflects oversold conditions AUDCAD erased more than half of its October-December upleg to find support around the November 13 low of 0.8755, which overlaps with the 61.8% Fibonacci retracement level of the bullish wave. Both the RSI and the stochastic oscillators hint at oversold conditions, […]
08/12/2023

GBPJPY Seeks Buyers After Worst Day of the Year

GBPJPY reverses October-November rally Oversold conditions detected after sharp drop Resistance at 181.45-182.00 GBPJPY crashed by 3.5% to 178.51 on Thursday before closing the day at 181.45, marking its worst daily session of the year. The pair faced heavy selling in the wake of renewed signals the Bank of Japan could exit its existing super […]