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Summary United States: July Cut Bites the Dust; September Hanging on Edge of Its Seat The strong job gain and rebound in average hourly earnings in May reaffirm our expectation that a rate cut remains some time away and is increasingly dependent on a few slower inflation reports. Next week’s CPI report and the FOMC’s […]

The post Weekly Economic & Financial Commentary: G7 Central Banks Ease into Summer with Rate Cuts appeared first on Action Forex.

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23/05/2024

USDCAD Wave Analysis

USDCAD reversed from pivotal support level 1.3585 Likely to rise to resistance level 1.3750 USDCAD currency pair recently reversed up from the pivotal support level 1.3585 (former strong resistance from December, February and March) intersecting with the lower daily Bollinger Band and the 38.2% Fibonacci correction of the upward impulse from December. The upward reversal […]
11/09/2024

Elliott Wave Update: USD/JPY Moving into 138.00-140.00 Zone

USD/JPY is finally topping out this year at our 162-164 resistance area, where we called the end of a big ending diagonal on the daily chart. Notice that the price is now falling sharply and impulsively through the lower trendline support and straight, all the way down to the starting point of the wedge pattern, […]
17/06/2024

RBA Policy Meeting May Be Muted; Aussie Remains Choppy

RBA interest rate expected to remain unchanged Sticky inflation and economy’s uncertainty still a concern Aussie holds in downward channel ahead of Tuesday’s decision at 04:30 GMT Australia’s uncertain economy and sustained inflation The Reserve Bank of Australia (RBA) is scheduled to announce its June policy decision early on Tuesday, likely maintaining the central bank’s agenda. The policymakers had anticipated that their responsibilities would […]