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In focus today Focus in the euro area is on retail sales for December. Private households are still cautious with spending despite the strong labour market and large savings from the previous years. We expect private consumption to improve during 2024 as real income rises, but the December 2023 print will likely show muted retail […]

The post ISM Data Points to a Stronger Than Expected US Service Sector appeared first on Action Forex.

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05/12/2023

EUR/USD: Bears Tighten Grip and Crack Pivotal Supports

Bears returned fully to game on Monday after Friday’s brief pause on Fed Powell’s remarks, pushing the Euro to the lowest in three weeks. The pair slid over 0.5% until mid-US session and cracked pivotal support at 1.0818 (200DMA), looking for a bearish signal on firm break, which will be confirmed on extension and close […]
16/08/2024

EURJPY Wave Analysis

EURJPY broke resistance area Likely to rise to resistance level 164.90 EURJPY currency pair just broke the resistance area located between the resistance level 162.50 and the 61.8% Fibonacci correction of the earlier sharp downward impulse (c) from the end of July. The breakout of this resistance area is aligned with the clear multi-month uptrend […]
12/04/2024

No Surprises from ECB

In focus today In the euro area, focus today is on final March inflation data for Germany, France, and Italy. The final data will allow us to estimate how much the timing of Easter impacted the March numbers and to what extent we should expect an effect on the April numbers. From the US, University […]