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The RBA is on hold until inflation falls further. A scenario necessitating a rate hike is not impossible, but it is unlikely, and it would only take shape later in the year. With the inflation surprise in the March quarter and some further upside possible in the June quarter, the outlook for rate cuts in […]

The post Could They? Should They? appeared first on Action Forex.

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GBPJPY Returns to Pre-intervention Levels

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14/08/2024

GBP/USD Outlook: Cable Dips on Softer Than Expected UK Data, Focus Shifts on US Inflation

Cable fell 0.35% in immediate reaction to softer than expected UK inflation numbers in July. Although the BoE expected inflationary pressure to rise after CPI stayed at 2% target in past two months, weaker than expected July figure adds to expectations for more rate cuts that deflated sterling. Fresh dip emerged after repeated failure to […]
27/12/2023

EURJPY Wave Analysis

EURJPY rising inside impulse wave (5) Likely to reach resistance level 158.40 EURJPY rising inside the intermediate upward impulse wave (5), which started earlier from the major support level 154.40 (which has been reversing the price from July). The support level 154.40 was additionally strengthened by the 50% Fibonacci correction of the upward impulse from […]
12/04/2024

ETHUSD Finds Support at 50-day SMA

ETHUSD slides after recording 1-month peak But the 50-day SMA curbs its retreat Momentum indicators ease in positive zones ETHUSD (Ethereum) experienced a strong pullback from its 2024 peak of 4,090, dropping to as low as 3,060. This week, the price recorded a fresh one-month high of 3,410 before reversing lower to find solid support at the […]