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EURUSD is consolidating within a narrow range on Thursday morning, following strong rally on Wednesday (up 0.65%), but remains constructive despite Wednesday’s upside rejection and a bull-trap above converged 10/20DMA’s. The single currency rallied on weaker than expected US May CPI numbers, though the sentiment was cooled by more hawkish than expected remarks from Fed […]

The post EUR/USD: Remains Constructive Despite More Hawkish Than Expected Powell appeared first on Action Forex.

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US Dollar Declines as Fed Signals Potential Rate Cut and Inflation Eases

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19/01/2024

EURCHF Wave Analysis

EURCHF broke resistance level 0.9410 Likely to rise to resistance level 0.9500 EURCHF currency pair recently broke the key resistance level 0.9410 intersecting with the 50% Fibonacci correction of the previous downward impulse from December The breakout of the resistance level 0.9410 accelerated the active short-term ABC correction 4. Given the strong Swiss franc sales […]
11/09/2024

Sunset Market Commentary

Markets US August inflation is another piece for the Fed’s puzzle next week. Headline CPI rose again and as expected by 0.2% M/M with the Y/Y-figure slowing as anticipated from 2.9% to 2.5%. Core CPI accelerated from 0.2% M/M in July to 0.3% while consensus was looking for a 0.2% pace as well. Core CPI […]
21/05/2024

Is the Time for WTI Crude Oil to Create Bearish Correction?

Fed’s cautious stance drives WTI crude oil lower Commodity capped by bearish cross and 80.00 level in daily chart Prices consolidate in 4-hour timeframe Oil prices continued to decrease on Tuesday due to the cautious stance of Fed officials despite the recent softening of inflation. This has raised concerns that US interest rates may remain elevated for an extended […]