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EURGBP fell to three-month low early Wednesday, attempting to resume larger downtrend, after a brief consolidation in past two days. Larger bears regained traction following a double rejection of recovery attempts and received fresh boost from weak German data (factory orders slumped in October and Nov construction PMI fell to the lowest since mid-2020). Bears […]

The post EUR/GBP: Hits New Multi-Month Low, But Oversold Studies Continue to Obstruct Bears appeared first on Action Forex.

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10/04/2024

Markets in Waiting Position for US March CPI

In focus today Today’s focus will be on the US March CPI, where we forecast both headline and core inflation at +0.3% m/m SA. Higher oil prices continue to lift headline inflation, but the Fed focuses more on the underlying price pressures, not least after concerning upticks in services inflation and strong labour market in […]
01/12/2023

Disinflation Continues in Euro Area

Market movers today The most important data release of the day will the November ISM Manufacturing index from the US. Consensus expects a modest rebound, as several other leading indicators for global manufacturing have shown signs of bottoming out lately, even if the US Flash PMI still ticked lower in November. Manufacturing PMIs are due […]
29/05/2024

Will Core PCE Inflation Spur a Less Hawkish Fed?

Hopes that PCE inflation will point to some further moderation But would that be enough for the Fed to ease its hawkish stance? US dollar drifts lower ahead of the crucial data due Friday, 12:30 GMT The stakes are high as Fed meeting approaches After months of hotter-than-expected inflation prints, there was finally some good […]