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Cable continues to trend lower, riding on the wave of so-called Trump trades, as dollar rose significantly on post-election euphoria. Steep bear leg extends into fifth consecutive day and hit new multi-week low, coming close to target at 1.2664 (Aug 8 low) guarding 1.2612 (June 27 low) on renewed probe through 1.2700 support, after bears […]

The post GBP/USD Outlook: Steep Post-US Election Bear Leg Extends Below 1.2700 appeared first on Action Forex.

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04/12/2023

Mixed Feelings

The Federal Reserve (Fed) President Jerome Powell pushed back against the rate cut bets at his speech given in Atlanta last Friday. He is of course playing the card of ‘high for long’ rates to tame inflation, yet he hinted that the Fed will probably not hike rates when it meets this month. He said […]
31/05/2024

Week Ahead – ECB Rate Cut Might Get Eclipsed by BoC Surprise and NFP Report

ECB set to slash rates on Thursday, focus on forward guidance But will the BoC take the lead when it meets on Wednesday? US jobs report eyed on Friday as Fed unyielding on cuts OPEC+ might extend some output reductions into 2025 ECB poised to cut rates, but what’s next? The path by central banks […]
30/07/2024

Spooked Bitcoin

Market picture The cryptocurrency market pulled back 3% to a capitalisation of $2.4 trillion, erasing gains for a while due to the Bitcoin conference. For the past week and a half, the market has been predominantly moving in the $2.4-2.5 trillion range. The hesitancy of traders this week can easily be blamed on expectations of […]