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In focus today There are no major market movers today. The main event to watch this week will be Wednesday’s US policy rate decision, where we expect a 25bp cut from the FOMC (see more in Fed Preview – Dovish 25bp, 13 September). We also look out for the final euro area inflation data on […]

The post It’s Central Bank Week appeared first on Action Forex.

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18/01/2024

EURUSD Finds Support at the 200-day SMA

EURUSD had been rangebound before sliding lower But the retreat ceases at the 200-day SMA Momentum indicators remain tilted to the downside EURUSD had been trading sideways since the beginning of the year following its pullback from the December high of 1.1138. The pair spiked lower on Tuesday, but the congested region that includes the 200-day […]
20/08/2024

Dollar on the Edge

The US dollar has fallen to its lowest levels of the year, losing more than 2.3% from its August peak and around 4% since early July as expectations of a Fed rate cut in September began to be priced in. The dollar index has retreated to 101.7, reflecting growing expectations of Fed easing. Although the […]
11/12/2023

Gold Technical: Extension of Corrective Decline Ahead of FOMC

Lofty dovish expectations of 4 Fed funds rate cut in 2024 are at risk of being dialed back. Short-term bullish momentum has resurfaced in the US 10-year Treasury real yield. Spot Gold (XAU/USD) may continue its short-term corrective decline sequence. Watch the key short-term resistance at US$2,040 on Spot Gold (XAU/USD). Spot Gold (XAU/USD) has […]