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U.S. Highlights January’s personal and income spending report landed just where it was expected to, with the only surprise coming from a bigger than expected lift from nominal personal income growth. The Fed’s preferred measure of inflation, core personal consumption expenditure prices, cooled to 2.8% year-on-year, with near-term trends suggesting it has room to fall. […]

The post The Weekly Bottom Line: Coming Off the Boil? appeared first on Action Forex.

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26/08/2024

EUR/USD Exchange Rate Has Risen to 1.12 Level

During his speech at Jackson Hole, as reported by Reuters, the Fed Chair unexpectedly focused heavily on the US labour market. Powell stated that weaker employment prospects are unacceptable. As a result of this emphasis, market expectations for a rate cut in September decreased, and the value of the US dollar increased: → On Monday […]
27/03/2024

Are USDJPY Bulls Ready for a New Record High?

USDJPY trades higher again, testing the October 21, 2022 high Last week’s events have renewed the bullish pressure as intervention risk increases Momentum indicators support the bullish move; all eyes are on the stochastic oscillator USDJPY is continuing its journey north and it is now testing the October 21, 2022 high at 151.94 as last week’s events have probably […]
20/02/2024

Technical Outlook and Review

DXY: For DXY, the current momentum on the chart is assessed as bullish, with several factors contributing to this outlook. One notable factor is that the price is currently positioned above a major ascending trend line, indicating potential for further bullish momentum. Looking ahead, the price could potentially experience a bullish bounce off the 1st […]