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A 25bps cut by the ECB is likely to have been fully priced in. The current high expectation of another ECB rate cut in December faces an increased repricing risk. Watch the 1.0780/0750 key medium-term support on the EUR/USD. In the past four weeks, the EUR/USD has plummeted by 3.3% from its 25 September high of […]

The post EUR/USD Technical: Overstretched Decline Heading into ECB Meeting appeared first on Action Forex.

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26/09/2024

Natural Gas Price Hits 3-Month High

According to today’s XNG/USD chart, the price of natural gas: → has risen by approximately 30% since the beginning of September; → is currently around the 2.95 level – the last time the price was at this level was at the end of June this year. Bullish sentiment is supported by: → forecasts of a […]
31/05/2024

Canadian Dollar Eyes Canadian GDP

The Canadian dollar is showing little movement on Friday, but that could change with the release of Canadian GDP and the US PCE Price index later today. USD/CAD is trading at 1.3660 in the European session, down 0.15% on the day. Canada’s economy expected to have flatlined in March Canada’s economy is expected to have […]
04/04/2024

ISM-Inspired Treasury Gains Went Hand-in-hand With Profit Taking on USD Long

Markets It’s been a rollercoaster ride for US Treasuries so far this week. (Easter) Monday’s consensus-beating, growth-signaling, manufacturing ISM triggered a fierce sell-off. The move continued on Tuesday with rallying oil prices (Brent $90/b; see news & views) continuously adding pressure. Technical support levels (YTD sell-off low) avoided even steeper losses on Tuesday together with […]