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Key Highlights AUD/USD is trading in a range below the 0.6700 resistance. A key rising channel is forming with support at 0.6625 on the 4-hour chart. Oil prices extended gains and approached the $85.00 resistance. The US ISM Manufacturing Index could remain below 50.0 at 49.0 in June 2024. AUD/USD Technical Analysis The Aussie Dollar […]

The post AUD/USD Range-Bound: What Could Spark Fresh Increase? appeared first on Action Forex.

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31/05/2024

Inflation, Inflation, Inflation

In focus today Focus today turns to euro area inflation for May which is due 11.00 CET. After German and Spanish headline HICP came in slightly stronger than consensus, we see slight risks of a topside surprise to the euro area headline HICP consensus of 2.5% y/y. We expect headline HICP to print 2.5-2.6% y/y. […]
28/06/2024

Yen: A Managing Decline

The Japanese yen has fallen to its lowest since 1986 against the dollar and a historic low against the euro. Its YTD loss is 12.5%, the third-worst performance after the Nigerian naira and the Egyptian pound among the 36 most liquid global currencies. This performance of the currency has the monetary and financial authorities in […]
09/03/2024

Week Ahead – US CPI to Headline Dull Week, May Spoil the Calm

US inflation and retail sales data to take the spotlight as dollar slips UK jobs and GDP numbers coming up too amid recession woes Will markets hold their nerve before the looming central bank storm?  Will CPI report cause a sticky problem for the Fed? The US Federal Reserve doesn’t meet until March 20 for […]