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The big news this week was the barrage of new stimulus measures from China. At an economic briefing on Tuesday, People’s Bank of China and financial regulators announced a wide range of measures to shore up the ailing economy: the policy rate was cut by 30bp, Reserve Requirement Ratios for banks were cut by 50bp, measures […]

The post Weekly Focus – China Makes a Big Push to Turn the Economy appeared first on Action Forex.

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18/11/2024

Will Fed-ECB Policy Gap Sink Euro? EUR/USD Analysis

EUR/USD faces pressure due to a strong US Dollar and concerns about the ECB’s policy direction. The US election and potential trade war concerns are weighing on the Euro. The interest rate differential between the Fed and ECB is a key factor to watch. The US Dollar bulls continue to hold firm at the start […]
23/07/2024

EUR/JPY Outlook: Collapses to Five-Week Low on BoJ Rate Hike Signals

EURJPY fell nearly 1% on Tuesday, as yen rose across the board on hawkish talks which may prompt BoJ for more rate hikes. The pair broke below psychological 170 support, hitting the lowest levels in five weeks and cracked Fibo 76.4% retracement of 167.52/175.42 upleg. Technical picture weakened further on daily chart, with daily close […]
08/11/2024

EUR/USD Outlook: Bears Hold Grip But Prolonged Consolidation May Precede Fresh Push Lower

EURUSD weakened on Friday after recovery attempts from new multi-month low (1.0682), hit after Wednesday’s post-election 1.7% fall (the biggest daily loss since 19 Mar 2020), failed to clear daily Tenkan-sen (1.0809). Formation of bull-trap pattern on daily chart adds to weak near term outlook as Wednesday’s massive bearish daily candle weighs heavily, technical studies […]