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The Australian dollar has momentarily halted its downward trajectory against the US dollar, stabilizing around the 0.6565 mark. With a lack of significant domestic data from Australia, the AUD’s movements are largely influenced by the performance of the Chinese yuan and economic developments from China. Recently, the offshore yuan weakened to its lowest in a […]

The post AUD/USD Stabilizes Amid Chinese Economic Data and US Inflation Concerns appeared first on Action Forex.

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19/09/2024

British Pound Rises as Core CPI Jumps

The British pound has gained ground on Wednesday. In the European session, GBP/USD is trading at 1.3224, up 0.48% on the day. UK core inflation surprises to the upside First, the good news. UK headline inflation remained unchanged at 2.2% y/y in August, and matched the market estimate. The Bank of England had estimated that […]
10/01/2024

Weak JPY Following Disappointing (But Outdated) November Labor Earnings Data

Markets Bond supply stood in the center of attention yesterday. Belgium and Italy kicked off in Europe. Both received bumper investor interest, the former for a new 10-year OLO benchmark and the latter for a 7-year one as well as a tap of an existing 30-year BTP. The US started its monthly refinancing round with […]
17/05/2024

Elliott Wave Expects Silver (XAGUSD) Pullback to Find Support

Short Term Elliott Wave in Silver (XAGUSD) suggests the metal rallies in impulsive structure from 10.3.2023 low. Up from there, wave (1) ended at 25.91 and dip sin wave (2) ended at 21.94. The metal then extended higher in wave (3) towards 29.79. Pullback in wave (4) ended at 26.02 as the 1 hour chart […]