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The euro is almost unchanged on Wednesday. In the European session, EUR/USD is trading at 1.0506, up 0.02% at the time of writing. Eurozone Services PMI falls into contraction in November The monthly eurozone Services PMI reports can be viewed as report cards for business activity and the news wasn’t good in November. The Eurozone […]

The post Euro Shrugs After Eurozone Services PMI Contracts appeared first on Action Forex.

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12/12/2024

EURGBP Plummets to 33-Month Low

EURGBP posts another lower low Bearish sentiment endorsed by technical oscillators EURGBP plunged to a new 33-month low of 0.8233 earlier today, creating a lower low in the medium-term outlook and endorsing the strong negative tendency. The momentum oscillators mirror the latest bearish move with the RSI diving towards the 30 level and the MACD […]
09/11/2024

Markets Weekly Outlook – Attention Shifts Back to Data, US CPI in Focus

Trump’s clean sweep saw a significant rise in the US Dollar and Yields. Can it continue? Data in focus next week, US CPI data is due with potential implications for Federal Reserve policy and interest rate decisions. US Dollar Index (DXY) breaks above key level of 105.00. Where to next for the Greenback? Week in […]
11/12/2024

USD/CAD at a 56-Month High

As evidenced by the USD/CAD chart, yesterday the rate climbed above 1.4190 – a level not seen since April 2023, when the world was gripped by panic over the spread of the coronavirus. Today, the weakness of the Canadian dollar relative to the USD is being influenced by a rich fundamental backdrop. As reported by […]