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NZDUSD starts the day with strong upside momentum after RBNZ decision MACD and RSI tick higher NZDUSD had an aggressive bullish start at the beginning of the day, following the bounce off the 0.6080 support level and creating a spike towards a fresh two-month high of 0.6151 after the RBNZ’s interest rate decision. The market […]

The post NZDUSD Posts New 2-Month High appeared first on Action Forex.

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17/04/2024

GBP/USD Rises as UK Inflation Higher than Expected

The British pound has rebounded after sliding 2.1% over the past week. In the European session, GBP/USD is trading at 1.2461, up 0.28%. UK inflation drops to 3.2% Inflation in the UK continues to decline but the March release was not as strong as expected. Inflation eased to 3.2% y/y, down from 3.4% in February […]
11/04/2024

Dollar Index Continues to Benefit from Hotter Than Expected US Consumer Prices

The dollar index keeps firm tone and rises further on Thursday after surging over 1% on Wednesday (the biggest one-day gains since 3 Feb 2023), lifted by hotter than expected US inflation data, which dropped bets for the start of Fed’s policy easing cycle in June. Fresh acceleration higher has fully reversed 104.83/103.61 corrective leg […]
14/03/2024

Gold Regains Traction After a Shallow Pullback as June Rate Cut Expectations Remain in Play

Gold price rose on Wednesday, reversing a part of Tuesday’s 1.1% drop, sparked by hotter-than-expected US inflation data, which temporarily cooled expectations for rate cut in June. Fresh gains suggest that markets believe, after digesting the data, that elevated inflation won’t have stronger negative impact on current expectations for the start of monetary policy easing. […]