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The British pound sterling is showing signs of recovery, bouncing back from a five-month low, with GBP/USD stabilising around the 1.2470 mark on Thursday. This rebound is attributed to the release of UK inflation data, suggesting a possible monetary policy easing by the Bank of England (BoE). The UK’s consumer price index (CPI) slowed to […]

The post British Pound Shows Signs of Recovery Amid Favourable Inflation Data appeared first on Action Forex.

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Sunset Market Commentary

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08/02/2024

NZD/USD Rate Recovering from Its Low of the Year amid News from Labour Market

Yesterday’s news showed that New Zealand’s labour market is stronger and more resilient than expected. In the fourth quarter of 2023, employment grew by 0.4% in the fourth quarter (forecast = +0.3%, quarter earlier = -0.1%). The unemployment rate is 4%, forecast = 4.3%. A strong labour market indicates a margin of safety in the […]
24/07/2024

Sunset Market Commentary

Markets Monthly PMI’s were the headline story on global markets. EMU surveys at least were no happy reading. The composite EMU HCOB PMI declined from 50.9 to 50.1 suggesting an near standstill in activity. The decline was mainly driven by a deepening contraction in German manufacturing (42.6). France also stays in sub-50 territory (composite 49.5), […]
30/01/2024

EURGBP Hits the Lower Bound of a Broader Range

EURGBP slides but finds support at the lower end of a range A break below that support may turn the outlook bearish Both the MACD and the RSI detect downside momentum EURGBP entered a sliding mode on December 28, after hitting resistance slightly above 0.8700, the upper boundary of the broader sideways range that’s been […]