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ECB expected to hold rates at 4% The euro is barely making a peep on Thursday, ahead of the European Central Bank’s decision later in the day. In the European session, EUR/USD is trading at 1.0894, down 0.04%. ECB expected to hold rates The ECB is expected to follow the Federal Reserve’s pause and hold […]

The post Euro in Holding Pattern Ahead of ECB Decision appeared first on Action Forex.

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29/05/2024

GBP/JPY Hits New Multi-Year High

The GBPJPY cross continues to trend higher and establishing above 200 mark (Monday’s close above this level was the first since Aug 2008). Bulls cracked barrier at 200.50 (Apr 29 spike high), with sustained break here to open way for further acceleration. Sterling remains supported by strong divergence between the interest rates of BoE and […]
08/03/2024

Sunset Market Commentary

Markets It’s as if some ECB members were inspired by yesterday’s comment by Fed Chair Powell that the US central bank is not far from being confident that the time is right to start dialing back the level of policy restriction. After Fed members recently closed ranks on a first rate cut in June, he […]
29/07/2024

USDJPY Struggles to Reclaim 20-Period SMA

USDJPY caught in a battle to overcome 20-period SMA Near-term momentum is positive but weak Bulls face an uphill struggle to regain control USDJPY has started the week on a somewhat positive note but it’s proving difficult for the bulls to secure the upper hand as a tough battle rages around the 20-period simple moving […]