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Traders are closely monitoring Fed speeches, particularly Fed’s Mester speech scheduled for Tuesday, for further insights into monetary policy directions. Additionally, market participants await key economic releases later in the week, including New Zealand’s Unemployment Rate for Q4 and China’s Consumer Price Index (CPI) and Producer Price Index (PPI) for January. These data points will […]

The post NZD: Unemployment Rate Could Weaken NZD appeared first on Action Forex.

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26/06/2024

EURGBP Lacks Clear Direction in Short-Term

EURGBP fails to recoup the negative gap RSI ticks down but MACD stands above its trigger line EURGBP is heading south after the pullback off the 20-day simple moving average (SMA) around 0.8465. The pair is moving sideways after the European elections and the negative gap that was posted back on June 10. Technically, the […]
08/08/2024

Dollar Index: Limited Recovery Likely to Precede Fresh Weakness as Rate Outlook Weighs

The dollar index ticked lower in European trading on Thursday, after bounce from 8-month low (101.94, posted on Monday) started to lose traction. Weak picture on daily chart (MA’s in bearish configuration / strong negative momentum) warn of limited recovery before bears regain control. The dollar was hit by the recent strong rally of yen, […]
19/12/2023

US 500 Index Rallies to New Highs in 2023

US 500 completes 8 green weeks Overall trend remains overwhelmingly positive The US 500 cash index rose to its highest level of 4,801 in at least two years. The index is recording the eighth straight green week following the strong rebound off the ascending trend line and the 4,120 support level. Weekly oscillators suggest that upside momentum […]