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GBP/USD is currently range-bound, consolidating within a narrow 30-pip range. US CPI and PPI data releases on Thursday and Friday could introduce some volatility. From a technical standpoint, the medium-term outlook still favors USD bulls, but a short-term bounce in GBP/USD is looking appealing. GBP/USD is in uncharted territory if i may so with the […]

The post GBP/USD Consolidates as Bulls Eye a Potential Short-Term Pullback appeared first on Action Forex.

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18/07/2024

Change of Heart from Fed Governor Waller Significant

Markets We’ve given Fed governor Waller plenty of attention this year. He’s been the voice of the large minority inside the Fed who from the beginning of the year has been pushing to keep policy rates at their peak levels for longer. Markets had to gradually retrace from huge easing bets at the beginning of […]
22/10/2024

Brent Crude – Oil Rises on China Rate Cuts But Middle East Uncertainty Lingers

Oil prices rose due to Chinese rate cuts and Middle East uncertainty. The IMF downgraded its global growth forecast to 3.2%. Technically, Further upside is possible if conditions remain consistent. Geopolitics remains key. Oil prices are enjoying a mini renaissance to start the week thanks to Chinese rate cuts and the ongoing and ever changing […]
15/02/2024

All Eyes on US Retail Sales

In focus today In the US, January retail sales and industrial production data is due for release. Consensus expects some moderation in retail sales growth, even though early credit card data suggests that consumption has remained brisk at the start of the year as well. The NAHB housing market index and initial claims data will […]