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Key insights from the week that was. In Australia, headline results from the May Labour Force Survey were in line with Westpac’s forecasts. Growth in employment was solid in the month, up +39.7k (+0.3%), in part due to an unwind of a seasonal dynamic from last month – more people than usual entering employment in […]

The post Cliff Notes: Cautious Steps Towards Easing appeared first on Action Forex.

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02/09/2024

CADJPY Wave Analysis

CADJPY reversed from key support level 105.00 Likely to rise to resistance level 110.00 CADJPY currency pair recently reversed up with the weekly Hammer from the key support level 105.00 (which has been reversing the price from the middle of 2023). The support level 105.00 was strengthened by the lower weekly Bollinger Band and by […]
09/04/2024

Australian Dollar Extends Gains Despite Soft Confidence Data

The Australian dollar is in positive territory on Tuesday. In the European session, AUD/USD is trading at 0.6620, up 0.25%. Consumer confidence sags Australian consumers have been pessimistic about the economy and their mood soured even more in April. The Westpac consumer confidence index fell 2.4% to 82.4, well below the 100 line which separates […]
01/12/2023

USDCAD Extends Decline Towards the 200-day SMA

USDCAD posts a fresh 2-month low in today’s session Decline shows no signs of easing, bears eye the 200-day SMA Momentum indicators endorse the resumption of the retreat USDCAD has been constantly losing ground following its 13-month high of 1.3898 on November 11. Moreover, the pair dropped to its lowest levels in two months on Friday, with […]