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UK GDP likely expanded in November, potentially dashing hopes for early rate cut But any disappointment would increase the odds of a technical recession Data due at 07:00 GMT, Friday, will be key to sustaining pound’s uptrend Confounding expectations The British pound was the second best performing major currency of 2023, ending the year with […]

The post Pound Looks to UK GDP Rebound to Keep Bears at Bay appeared first on Action Forex.

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EUR/GBP Technical: Short-Term Relative Weakness of EUR Reasserts Against GBP

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02/01/2024

Gold Price Forecast: XAU/USD Holds Positive Ground Above $2,060, Focus on US PMI Data

Gold price gains ground near $2,065 during the early Asian session on Tuesday. The US Chicago Purchasing Managers’ Index (PMI) arrived at 46.9 in December vs. 55.8 prior, worse than expected. The chairman of the Chinese Communist Party Xi Jinping made vague comments about supporting the economy. The US S&P Global Manufacturing PMI is due […]
13/09/2024

AUDCAD Wave Analysis

AUDCAD reversed from support zone Likely to rise to the resistance level 0.9150 AUDCAD recently reversed up from the support area between the support level 0.9020 (which reversed the price at the start of August) and the lower daily Bollinger Band. The upward reversal from the support level 0.9020 stopped the C-wave of the previous […]
15/03/2024

USD/JPY Rises, All Eyes on BoJ After Wage Deal

The Japanese yen has extended its losses against the US dollar for a fourth straight day and is down 1.1% this week. In the European session, USD/JPY is trading at 148.70, up 0.28%. Japanese unions win big, BoJ considering rate hike Japan’s largest trade union announced today that workers at Japan’s largest firms would receive […]