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Employment: –65.1k (from +72.6k). Unemployment Rate: 3.9% (unchanged). Participation Rate: 66.8% (from 67.3%). December’s labour force figures featured another surprise with regards to employment growth, this time to the downside, collapsing –65.1k (–0.5%) in the month. That compares to Westpac’s forecast of +35k and a softer market consensus of +15k. The number of people employed […]

The post Australia December Labour Force: Soft Finish to the Year appeared first on Action Forex.

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06/02/2024

GBP/USD Tumbles Below Support, Upsides Capped

Key Highlights GBP/USD declined heavily below the 1.2650 support. It traded below a key contracting triangle with support at 1.2660 on the 4-hour chart. EUR/USD could attempt a recovery wave toward the 1.0820 resistance zone. The UK Construction PMI could increase from 46.8 to 47.3 in Jan 2023. GBP/USD Technical Analysis The British Pound started […]
19/03/2024

GBPUSD Retreats Towards 50-day SMA

GBPUSD generates fresh 2024 peak But declines sharply towards the 50-day SMA Momentum indicators weaken significantly GBPUSD has been stuck in a rangebound pattern since mid-November, unable to adopt a clear directional impetus. Although the pair exploded higher and posted a fresh seven-month high after conquering the 50-day simple moving average (SMA), it quickly reversed back within […]
06/02/2024

USD Strengthens Following Strong Employment Data

The US dollar has seen a significant increase in strength against the Euro, with the EUR/USD pair falling to 1.0770 by Monday morning. This movement is largely attributed to the recent release of robust employment sector reports in the US for January, which have shifted investor expectations regarding the Federal Reserve’s interest rate decisions. The […]