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Markets Main potential market movers already hit the screens this morning before the start of European dealings with the BOJ policy decision and the UK consumer data. The BOJ as expected left its policy rate unchanged at 0.25%, but communication on the timing of future rate hikes was more balanced than expected. The BOJ upgraded […]

The post Sunset Market Commentary appeared first on Action Forex.

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11/12/2024

GBP/USD Tests 1.2800: Breakout Could Ignite Momentum

Key Highlights GBP/USD started a recovery wave above the 1.2550 resistance zone. A key rising channel is forming with support near 1.2720 on the 4-hour chart. Gold prices could accelerate higher toward $2,700 or even $2,720. USD/JPY is recovering losses and might test the 152.50 resistance. GBP/USD Technical Analysis The British Pound started a recovery […]
24/10/2024

EMU Money Markets Currently Attach Near 50% Probability to ECB Scaling Rate Cuts Up to 50 bps in December

Markets German Bunds significantly outperformed US Treasuries yesterday, especially at the front end of the curve. The German 2-yr yield lost 7.2 bps compared with a 4.7 bps increase for the US 2-yr yield. EUR/USD as a result tested 1.0778 support a first time (close: 1.0782). ECB governors kept all options open for the December […]
06/03/2024

EURUSD Holds in Tight Range Within SMAs

EURUSD remains above downtrend line RSI and MACD look weak EURUSD has been developing within a narrow range of the 20- and the 50-day simple moving averages (SMAs) of 1.0805 to 1.0860 respectively. The pair is still standing above the short-term downtrend line and the 200-day SMA, confirming the broader bullish outlook. Technically, the RSI […]