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EUR/USD has tumbled to 1.0789, marking a near three-month low as market sentiment heavily favours the US dollar. The dollar’s strength is driven by expectations of a gradual and limited interest rate cut by the US Federal Reserve and solid prospects for Donald Trump’s re-election, which appears increasingly likely. Concurrently, the Euro is under pressure […]

The post EUR/USD Dips to Three-Month Low Amid Strong Dollar Demand appeared first on Action Forex.

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12/12/2023

US: Price Gains Across Still-Hot Service Sector Keep Upward Pressure on Core Inflation

The Consumer Price Index (CPI) rose 0.1% month-on-month (m/m) in November, a tick above the consensus forecast and a modest uptick from October. On a twelve-month basis, headline inflation slipped to 3.1% (from 3.2%). Energy prices were a key factor restraining the headline measure, falling 2.1% m/m. The pullback was entirely due to another drop […]
16/07/2024

Kiwi Coming into Strong Support Ahead of Inflation Data

NZDUSD is coming out of consolidation, suggesting that the price action since the start of July was a triangle in wave B. Therefore, the whole retracement from June 12th is much more complex and deeper but still has a corrective shape. It looks like we are just breaking down into wave C, which has key […]
07/03/2024

USD/JPY Outlook: Japanese Yen Accelerates Dains vs Dollar on Growing Signals of BoJ Policy Shift

Bears accelerate on Thursday (USDJPY was down 1% in Asian / European session) extending steep fall into third straight day. Fresh weakness broke below initial Fibo support at 148.37 (23.6% of 140.25/150.88 rally, reinforced by daily Kijun-sen) generating initial reversal signal and warning of deeper drop. Bears cracked 100DMA (147.81) which produced some headwinds, with […]