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ECB faces a communication challenge in first meeting of the year Timing of rate cut likely to dominate discussion, but hawks to resist Mixed messages unhelpful to euro ahead of the decision on Thursday (13:15 GMT) Flash PMIs on Wednesday (11:00 GMT) on the agenda too Progress on inflation may be slowing  After inflation shot […]

The post ECB Meeting: Summer Rate Cut in Focus Amid Pushback by the Hawks appeared first on Action Forex.

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26/07/2024

USDCAD Eases After Aggressive Rally to 1.3845

USDCAD exits from consolidation area Momentum oscillators indicate bearish correction USDCAD rallied towards the 1.3845 high and completed the seventh consecutive green day on Thursday following the bounce off the 200-day simple moving average (SMA) near 1.3600. The pair climbed above the medium-term trading range, suggesting more gains may be on the cards. However, the […]
07/12/2023

USD/JPY: Japanese Yen Surges on Signals that BoJ is About to Exit Ultra-Loose Policy

USDJPY accelerated lower (down 1.4% in Asian/early European session) on Thursday, driven by growing market expectations that the Bank of Japan will soon start exiting its long lasting ultra-low monetary policy, which strongly boosts demand for yen. On the other hand, the US Federal Reserve is likely done with tightening and markets speculate that the […]
19/07/2024

AUD/USD: On Track for Biggest Weekly Drop Since Mid-April

Australian dollar continues to trend lower vs its US counterpart for the fifth consecutive day, on track for the biggest weekly loss since the second week of April. Bears have so far retraced 50% of 0.6575/0.6798 upleg and look for daily close below daily Kijun-sen (0.6691), to reinforce bearish signal. Daily studies are weakening (fading […]