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USDCHF’s rebound is not convincing yet  A continuation above 20-SMA could boost sentiment US nonfarm payrolls report due at 13:30 GMT USDCHF is set to close the first week of the year within the positive area, having secured a strong foothold around the support-turned-resistance trendline from March 2023 at 0.8400 following the flash drop to an almost […]

The post USDCHF Sustains Weekly Gains Ahead of Jobs Data appeared first on Action Forex.

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24/10/2024

Eurozone PMI Temporarily Helps the Euro but Is Unlikely to Change the Trend

On Thursday, S&P Global released flash estimates for the October PMIs across major regions. The significance of this data increases over time, and in Europe, it often influences market trends. The European data was mixed, but the currency market focused on stronger-than-expected numbers from Germany. In France, the services sector is experiencing a deeper decline […]
02/07/2024

EUR/USD: Euro Bulls Should Not be Complacent after French Election

Sovereign credit risk remains elevated in France despite yesterday’s rallies seen in the EUR/USD, CAC 40 & DAX ex-post first round of the French legislative election. Speculative net capital outflows & bearish sentiment in CAC 40 & DAX may trigger a negative feedback loop into the EUR/USD. EUR/USD at risk of breaking down below 1.0656 […]
14/06/2024

NZD/USD Exchange Rate Falls from Nearly 5-Month High

The NZD/USD exchange rate has dropped from its highest level in nearly five months. On Wednesday, following the release of US inflation data, the NZD/USD rate exceeded 0.6220 for the first time since 15 January 2024. However, today the rate has fallen approximately 1.3% from Friday’s peak, suggesting that the market’s reaction to the US […]