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The US yields pushed higher and the dollar rally gained further momentum yesterday, as investors continued to surf on the idea that Donald Trump’s pro-growth policies and tariffs would boost inflation in the US and limit the Federal Reserve’s (Fed) capacity to ease the monetary policy as much as previously anticipated. Yesterday’s data showed an […]

The post Dollar Up, Oil Down – Eyes on US CPI appeared first on Action Forex.

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31/10/2024

Brent Crude Oil Wave Analysis

Brent crude oil reversed from long-term support level 70.00  Likely to rise to resistance level 75.00 Brent crude oil recently reversed up from the major long-term support level 70.00 (which has been reversing the price from the end of 2021). The support zone near the support level 70.00 was strengthened by the lower daily and […]
20/11/2024

Pound Falls Despite Acceleration in Inflation

UK inflation beat expectations and accelerated markedly, but this only temporarily boosted the Pound. GBPUSD came under further selling when it broke above 1.2700. CPI rose 0.6% in October, and annual inflation accelerated from 1.7% to 2.3%, the highest since March. These fluctuations around the target do not yet look like a significant threat of […]
30/11/2023

Technical Outlook and Review

DXY: The DXY (US Dollar Index), the overall momentum of the chart is bearish, suggesting a potential download movement in price. In this scenario could potentially make a Bearish continuation towards the 1st support. The 1st support at 102.30 is identified as a pullback support. This suggests that it’s a significant level where buying interest […]