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The Dollar Index is in a sideways mode on Friday morning after Thursday’s drop almost fully reversed post-election rally on Wednesday. Near-term action ranging above the base of thick hourly Ichimoku cloud and expected to remain constructive above trendline support (103.72) and 200DMA (103.64). The dollar stabilizes after volatile conditions from release of US election […]

The post Dollar Index Outlook: Markets Digest News from US Election /Fed Policy Outlook appeared first on Action Forex.

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02/01/2024

NZD/USD Holds Above 0.6300 ahead of China’s Caixin PMI Data

NZD/USD trades on a softer note near 0.6313 on the downbeat Chinese economic data. The Chinese NBS Manufacturing PMI came in at 49.0 in December vs. 49.4 prior, worse than expected. The markets expect that the Fed will begin its easing cycle with a quarter-point drop in March. Market players await December’s Caixin Manufacturing PMI […]
27/08/2024

Elliott Wave Intraday Shows Bullish Sequence in GBPUSD

GBPUSD recently broke above previous peak on 7.14.2023 high at 1.3143 and shows a higher high bullish sequence from 9.26.2022 low. This leaves no doubt about the right side and direction of the pair which is higher. Near term, rally from 4.22.2024 low is ongoing as a 5 waves impulse Elliott Wave structure. Up from […]
13/08/2024

Sunset Market Commentary

Markets US producer price inflation rose by 0.1% M/M in July for the headline number and stabilized for the gauge excluding food and energy. Both were below consensus (+0.2% M/M), resulting in sharper-than-expected drops in the Y/Y-figures. Headline PPI printed at 2.2% from 2.7% and core PPI at 2.4% from 3%. Details showed a discrepancy […]