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The euro is showing limited movement on Tuesday. In the North American session, EUR/USD is trading at 1.0866, down 0.15%. Eurozone, German  PMIs expected to remain in contraction The eurozone economy is sputtering and the road to recovery is likely to be a long one. Manufacturing  and services PMIs are useful gauges of economic activity […]

The post Euro Steady, Eyes PMIs appeared first on Action Forex.

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NZ First Impressions: Consumers Price Index, December Quarter 2023

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13/12/2023

Trading Probably a Long-Drawn Countdown to Fed Decision

Market November US CPI yesterday was the final piece of the monetary puzzle before today’s Fed decision, but it didn’t change the global portrait. At 0.1% M/M and 3.1% Y/Y (headline) and 0.3% M/M and 4.0% for the core, the outcome was close to, maybe marginally higher than expected. Markets also didn’t know what conclusion […]
25/01/2024

Gold Not Out of the Woods Yet

Gold below key barriers ahead of next week’s FOMC policy announcement Technical signals cannot promise a meaningful rally Gold has been in a tight range within the 2,016-2,030 region so far this week, struggling to find enough buyers to close successfully above its exponential moving averages (EMAs) on the four-hour chart and the broken support trendline from […]
04/06/2024

Oil Probably Setting Up for a Repeat of 2020 or 2014

In the middle of last week, WTI crude bounced off resistance in the form of the 200-day moving average and moved closer towards the lower end of the May trading range. Oil is also trading below its 50-day average, which is pointing downwards. All of this is evidence of an intensifying bearish medium and long-term […]