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The euro is trading above USD 1.09, hitting its strongest point since mid-January on Friday, helped by news from both the US and Europe. Friday’s news showed that the US labor market is weakening: → The change in employment in the non-farm sector showed an increase in jobs = 275k for the month, although last […]

The post EUR/USD Hits 8-Week High appeared first on Action Forex.

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Japanese Yen Surges to Monthly High as Economy Shows Signs of Growth

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26/06/2024

AUD/USD Surged, Buoyed by RBA Confidence and Inflation Ggrowth

The Australian dollar strengthened notably against the US dollar, with the AUD/USD pair reaching 0.6684. Australia’s May economic indicators from MI remained unchanged at zero compared to the previous value. Meanwhile, Australia’s weighted average consumer price index increased to 4.0% y/y from the last 3.6%, surpassing the less ambitious forecast of 3.8%. Earlier statistics from […]
22/12/2023

EURCHF Wave Analysis

EURCHF reversed from key support level 0.9410 Likely to rise to resistance level 0.9500 EURCHF currency pair recently reversed up from the key support level 0.9410 (which has been reversing the price from the middle of October). The support level 0.9410 was strengthened by the intersecting lower daily Bollinger Band. Given the oversold daily Stochastic, […]
20/03/2024

Fed Risks Tilted Towards Hawkish Surprise

Markets We can’t but start with the Japanese yen again. Including this morning’s price action, USD/JPY (151.57) is an inch away from the 2022 multi-decade yen lows (at 151.95). EUR/JPY (164.68) already surpassed the 2023 high to trade at the strongest level since 2008. The cautious exit by the BoJ from ultra-easy monetary policy completely […]