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Japan’s core inflation expected to slow to 2.5% US GDP expected to confirm estimate of 5.2% The Japanese yen is in positive territory on Thursday. In the European session, USD/JPY is trading at 142.85, down 0.61%. Later today, the US releases third-estimate GDP for the third quarter, which is expected to confirm that the economy […]

The post USD/JPY Eyes Inflation, BoJ Minutes appeared first on Action Forex.

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05/12/2023

GBPUSD Bulls Hit a Wall; Support Nearby

GBPUSD reaches overbought area near key resistance Sellers could take control of the market below 1.2588 GBPUSD flatlined around the familiar 1.2720 resistance region, which was last tested at the end of August, after three constructive bullish weeks. The area also overlaps with the 61.8% Fibonacci retracement of the July-October downleg. The ongoing consolidation phase […]
19/01/2024

ECB Preview: Stocktaking

Next week’s ECB meeting is set to see few, if any, new policy signals, given the limited new information that has been released since the December meeting. We expect President Lagarde to confirm that the next policy rate change is most likely a cut, which may happen in summer. It remains to be seen whether […]
21/03/2024

EUR/USD Soars Following Fed’s Decision on Interest Rate Cuts

The EUR/USD pair soared to a weekly high of 1.0933 on Thursday following the Federal Reserve System’s announcement of three interest rate cuts planned for 2024. These adjustments will reduce borrowing costs by 75 basis points. The interest rate remains at 5.5% annually, its highest in 23 years, and has been unchanged for five consecutive […]