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Key insights from the week that was. In Australia, updates on the consumer were constructive overall. Nominal retail sales lifted 1.4% during Q4 and prices were up 0.4%. Retail sales volumes therefore managed a gain of 1.0% in Q4, building on Q3’s 0.5% increase to be up 1.1% over 2024. That all states and retail […]

The post Cliff Notes: Some Promising Signs for the Consumer appeared first on Action Forex.

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02/10/2024

AUD/USD Struggles With Gains, Faces A Downturn

Key Highlights AUD/USD faced resistance near 0.6940 and started a downside correction. A key bullish trend line is forming with support at 0.6880 on the 4-hour chart. Gold could rise again and trade toward the $2,700 level. Bitcoin trimmed gains and traded below the $64,000 level. AUD/USD Technical Analysis The Aussie Dollar climbed higher toward […]
11/04/2024

USD/JPY: Hit New Multi-Decade High after Strong US CPI Numbers, Intervention Looms

USDJPY is consolidating near new multi-decade high above 153 mark, after surging around 1% on stronger than expected US inflation data. Eventual break above narrow two-week range generates initial signal of bullish continuation of the latest bull-leg from 146.48 ((Mar 11 low) and exposes targets at 154.66 (Fibo 123.6% projection and 155.75 (1990 peak). On […]
12/06/2024

EURGBP Prints New 22-Month Low

EURGBP continues to fall after bearish gap Price shifts neutral outlook to negative MACD and RSI hold in oversold regions EURGBP opened with a significant bearish gap on Monday after the European elections on Sunday, sending the pair towards a fresh 22-month low of 0.8416. The pair is holding well below the medium-term trading range […]