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UK inflation has come in slightly weaker than expected, but this does not significantly bring the rate cut date any nearer. The CPI rose by 0.6% in February after a similar fall in January. Annual inflation slowed to 3.4% from 4.0%, vs expected 3.5%. Core CPI slowed its rise to 4.5% y/y in February after […]

The post UK Inflation Sets Up a Marathon for BoE appeared first on Action Forex.

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19/08/2024

USD/JPY On The Brink: A Surge Awaits If Resistance Falls

Key Highlights USD/JPY started a fresh increase above the 146.00 resistance. A major bearish trend line is forming with resistance at 150.00 on the 4-hour chart. Gold prices could again aim for a move above the $2,480 resistance. EUR/USD surged toward the 1.1040 level before the bears emerged. USD/JPY Technical Analysis The US Dollar started […]
06/03/2024

Market Analysis: EUR/USD Eyes More Gains, USD/CHF Could Rally

EUR/USD started a fresh increase above the 1.0828 resistance. USD/CHF declined and now struggling below the 0.8860 resistance. Important Takeaways for EUR/USD and USD/CHF Analysis Today The Euro rallied after it broke the 1.0828 resistance against the US Dollar. There is a connecting bullish trend line forming with support near 1.0845 on the hourly chart […]
17/09/2024

XAU/USD Outlook: Gold Takes a Breather Under New Record High Ahead of Fed Rate Decision

Gold price edged lower in European trading on Tuesday as bulls take a breather after hitting new record high on bullish acceleration in past three days. Overbought daily studies contribute to a partial profit taking, but dips are likely to be shallow and positioning for fresh push higher in anticipation that Fed will cut interest […]