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The euro has started the week with strong gains. EUR/USD is trading at 1.0756 in the European session, up 0.41% on the day at the time of writing. The euro is at its highest level since June 14. Macron takes a drubbing in round one France went to the polls on Sunday, with voter turnout […]

The post Euro Rises Despite France’s Vote for the Right appeared first on Action Forex.

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EUR/USD Rate Rises After First Round of Voting in France

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Japanese Yen Faces Further Depreciation Amid Rate Differentials

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04/05/2024

Weekly Economic & Financial Commentary: Yen Falls to 34-Year Low, Prompting Possible BoJ Intervention

Summary United States: April Brings Signs of Cooling in Economic Growth Q2 began on a softer note. Employment growth was sturdy in April, but the 175K jobs added was the smallest gain since October. The below-consensus gain was accompanied by an increase in the unemployment rate, which rose to 3.9%. Meanwhile, an unexpected acceleration in […]
29/02/2024

AUDJPY Correction Has Reached Short Term Support Area

The short-term Elliott Wave View in the AUDJPY suggests that the cycle from 01 February 2024 low unfolded in an impulse sequence and shows a bullish sequence supporting more upside. Whereas the rally to 96.92 high ended wave (i), a pullback to 96.18 low ended wave (ii). A rally to 97.67 high ended wave (iii) […]
04/09/2024

Bank of Canada Cuts Rates Again, Signals More to Come

The Bank of Canada (BoC) cut its overnight rate by 25 basis points, to 4.25%, while stating that it will continue with Quantitative Tightening (QT). The Bank noted the recent softening in economic data, affirming that “preliminary indicators suggest that economic activity was soft through June and July” and that “the labour market continues to […]