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In focus today In the euro area, focus turns to the May PMIs. The economy has started the year on a strong footing with composite PMI above 50 in the past two months. We expect that the service PMIs will remain around the 53 level while the manufacturing sector should rebound slightly to 46, still […]

The post May PMIs are Today’s Main Event appeared first on Action Forex.

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EUR/USD Fell With Noticeable Acceleration After FOMC Minutes

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30/07/2024

Has Rally in GBPCAD Peaked?

GBPCAD stabilizes near 3-year high, at the top of a bullish channel Technical signals flag weaker sessions ahead; bears eye 1.7700 level GBPCAD is in the fifth week of gains, having exponentially risen to 1.7849 last week– the highest level reached since March 2021. The pair has been on the sidelines this week, retaining marginal […]
28/03/2024

GER 40 Index Marks Highs After Highs

German 40 index hits all-time high Uptrend shows ongoing strength, but a pause is likely The German 40 index has been having an exceptional performance so far in 2024, gaining more than 10% to unlock an all-time high of 18,510 on Wednesday. The ongoing positive trend has yet to show any cracks, but with the price marking […]
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 […]