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EUR/USD plummeted below 1.0800 and is currently hovering around 1.0796 on Monday morning. This development came amid heightened political tensions in France. President Emmanuel Macron called for early elections on Sunday in the wake of his party’s crushing defeat and Marine Le Pen’s party’s resounding victory in the European Parliament elections. The far-right, which secured […]

The post Euro Falls to Four-Week Low: Politicians to Blame appeared first on Action Forex.

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09/03/2024

Weekly Economic & Financial Commentary: G10 Central Banks Sitting Tight

Summary United States: Labor Market Cooling but Far from Cold With fresh updates on a variety of indicators, particularly those associated with the labor market, the past week’s performance continued to help shape the narrative heading into the March FOMC meeting. Beating expectations, total nonfarm payrolls increased 275K in February. Next week: CPI (Tue.), Retail […]
14/06/2024

WTI Oil Week Ahead: WTI Eyes $80 a Barrel on Demand Optimism

WTI Oil on course for its best week in over two months. WTI unfazed as OPEC and IEA forecast paint differing demand pictures. WTI eyeing trendline break and psychological $80 a barrel mark. Fundamental Overview and Week in Review WTI oil prices are experiencing a resurgence this week, driven by demand optimism. This positions WTI […]
03/04/2024

GBP/USD Slides Further and Bears Are Not Done Yet

Key Highlights GBP/USD gained bearish momentum below the 1.2640 support zone. A major bearish trend line is forming with resistance at 1.2670 on the 4-hour chart. Gold prices rallied further above the $2,260 resistance. The US ISM Services Index could increase from 52.6 to 52.7 in March 2024. GBP/USD Technical Analysis The British Pound started […]