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There was no major news on the wire to trigger the minor selloff in global equities, so it was nothing else than a correction after a long rally following an ugly meltdown. As such, the S&P500 and Nasdaq were slightly down, by around 0.20% each, the European Stoxx 600 retreated 0.47%, while the Nikkei gave […]

The post US Dollar Extends Losses, Gold Shines appeared first on Action Forex.

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30/05/2024

USD: Bullish Ahead of Jobless Claims

The Euro recently encountered resistance at the 1.0890 level against the US Dollar, prompting a downside correction. This decline was marked by a break below a key bullish trend line, with support situated at 1.0860 on the hourly chart of EURUSD. Meanwhile, the USDCHF pair is demonstrating positive momentum, trading above the 0.9110 resistance zone. […]
26/01/2024

Another Strong Batch of US Data, ECB Giving Little Away

US economic data continues to point to an economy that’s doing very well despite the various headwinds including very high interest rates. GDP data for the fourth quarter easily exceeded expectations, rising 3.3% on an annualized basis, adding to the increasing view that the US could be heading for a fairytale scenario, not just a […]
15/04/2024

UK Inflation Report Could Shift Market’s Focus Away from Geopolitics

BoE’s determination could be tested if this week’s CPI prints surprise on the upside Pound could benefit from a strong set of data this week Employment data will be released on Tuesday; the inflation report on Wednesday Inflation in the spotlight At the last Bank of England meeting, which is still relatively fresh in the […]