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Almighty dollar awaits PMIs for more signs of Fed cut delays Eurozone PMIs also on tap amid speculation of bigger cut by ECB Pound could benefit from data pointing to rebound in inflation Canadian and Japanese CPI numbers also on the agenda Trump’s election raises bets for a Fed pause The US dollar continued flexing […]

The post Week Ahead – Flash PMIs, UK and Canadian CPI Data Enter the Spotlight appeared first on Action Forex.

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01/10/2024

EUR/USD Rate Accelerates Decline Following European Inflation News

According to the Eurostat data released today: → Core CPI Flash Estimate (YoY): actual = 2.7%, expected = 2.7%, previous = 2.8%; → CPI Flash Estimate (YoY): actual = 1.8%, expected = 1.8%, previous = 2.2%. This news, coupled with yesterday’s statements from the Fed Chair, led to the EUR/USD rate dropping by over 1% […]
29/02/2024

EURUSD Remains Stuck Between SMAs

EURUSD trades in a range defined by 50- and 200-day SMAs Momentum indicators are marginally tilted to the upside EURUSD has posted a mild recovery following its pullback from the December high of 1.1138 to the 2024 bottom of 1.0693. However, the pair’s rebound has stalled at the congested region that includes the 50-day simple moving […]
13/12/2023

EUR/USD, GBP/USD, USD/JPY Analysis: Dollar Falling ahead of Fed Report

At the upcoming meeting, the American department is not expected to take steps aimed at changing monetary parameters. At the same time, officials will likely abandon overly hawkish or dovish rhetoric and focus on incoming macroeconomic data. November inflation statistics were published yesterday: as expected, the rate of growth in consumer prices accelerated from 0.0% […]