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Cable extends strong fall into second consecutive day, remaining under increased pressure from stronger dollar after upbeat US labor data and relatively hawkish comments from Fed Chair Powell. Fresh extension lower on Monday cracked the floor of near-term range (1.2875/1.2596), with close below here to generate initial reversal signal, which will look for verification on […]

The post GBP/USD: Cable Falls Further as Solid US NFP Lift Dollar appeared first on Action Forex.

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16/05/2024

Scandi Inflation Expectations on Today’s Menu

In focus today In the US, April industrial production data is due for release. In the euro area, industrial production data for March and employment growth for Q1 are scheduled for release. The current strong labour market gives upside risks to wage growth and thereby domestic inflation. In Denmark, the government will publish an update […]
07/02/2024

German Factories Orders Get Boost from Major Airplane Orders

In focus today The Polish central bank announces its base rate at 14.30. We expect them to maintain their current rate level of 5.75%. Early Thursday morning, Chinese CPI and PPI for January is released, and set to show another deflation print on the headline and thus continue the downbeat news flow out of China. […]
12/09/2024

Euro Flat Ahead of ECB Decision

The euro continues to show limited movement and is almost unchanged on Thursday. EUR/USD is trading at 1.1010 in the North American session at the time of writing. ECB expected to deliver 25 bps cut The European Central Bank meets later today and the markets are expecting a rate cut of 25 basis points, which […]