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This week has been rich in terms of interest rate cuts from major central banks. The Reserve Bank of Australia (RBA) didn’t cut its rates but gave an unexpectedly dovish statement, citing that the RBA officials are turning more confident that inflation is on path toward their policy goal. The Bank of Canada (BoC) delivered […]

The post Keeping Up With the Central Banks appeared first on Action Forex.

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23/09/2024

AUD/USD Rises to Eight-Month High, RBA Next

The Australian dollar has started the week with gains. AUD/USD touched a high of 0.6850, its highest level this year. In the North American session, the Australian dollar is trading at 0.6842, up 0.51% on the day. Reserve Bank expected to hold rates The Reserve Bank of Australia is expected to maintain the cash rate […]
14/06/2024

NZ Dollar Slips on Soft Manufacturing Data

The New Zealand dollar is sharply lower on Friday. NZD/USD is down 0.61%, trading at 0.6130 in the European session at the time of writing. New Zealand manufacturing PMI misses estimate New Zealand’s manufacturing sector contracted for a 14th straight month in May. The manufacturing PMI fell to 47.2, down from 48.9. New orders have […]
21/12/2024

BTCUSD on Track for First Weekly Loss in Two Months

BTCUSD – steep pullback from new record high extends into third straight day and accelerated after loss of psychological 100K support. Completion of Evening Doji Star reversal pattern on daily chart added to downside prospects, prompting stronger profit-taking that pushed the price to 94K zone in European session trading on Friday. Bitcoin is on track […]