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Markets Fed governor Waller was the sole highlight of yesterday’s uninspiring, holiday-thinned (Columbus Day in the US) start of the trading week. The man touted as current chair Powell’s successor said the “totality of the data” favours “more caution on the pace of rate cuts than was needed at the September meeting”. He called the […]

The post Dollar is Better Bid appeared first on Action Forex.

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03/01/2024

British Pound Starts New Year’s With a Tumble

The British pound is steady on Wednesday after sharp losses a day earlier. In the European session, GBP/USD is trading at 1.2632, up 0.11%. UK Services PMI expected to accelerate UK Services PMI will be released on Thursday. The services sector, which is responsible for most of the economy’s growth, hit a rough patch late […]
02/02/2024

BTCUSD Drops Below 50-day SMA

BTCUSD bounces off 2024 low and reclaims 40,000 But price dips back below 50-day SMA after advance pauses Momentum indicators suggest weakening buying pressures BTCUSD (Bitcoin) experienced a strong decline from its recent two-year peak of 49,051, dropping to as low as 38,460. Despite the price’s attempt for recovery, a new round of weakness has begun, with […]
23/10/2024

Crypto Market Undergoes Correction

Market Picture The crypto market is developing a correction at a moderate pace. It has lost 1.3% more over the last day to $2.31 trillion, down around 3% from the recent peak. At the same time, the sentiment of greed persists. The corresponding index is in the 70-73 range for the eighth day. Ethereum continues […]