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In focus today In the US, the ISM March Services Index is due for release in the afternoon. Its PMI-counterpart released earlier pointed towards a more positive outlook despite the tariff uncertainty. We will also keep an eye out for the March Challenger Report on layoff announcements. While usually not a market mover it could […]

The post Stronger and Broader US Tariffs Than Expected appeared first on Action Forex.

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02/01/2024

EUR/USD: Extended Pullback Pressuring Pivotal Supports

EURUSD keeps negative tone in the first trading day of 2024 and extends pullback from a multi-month high (1.1139) into third consecutive day. Break through initial support at 1.1041 (Fibo 23.6% of 1.0723/1.1139 upleg) extended through rising 10DMA (1.1011) and cracked psychological 1.10 support, which marks the upper boundary of pivotal 1.1000/1.0980 support zone (psychological/Fibo […]
22/11/2024

Weekly Focus – Geopolitics Back on the Radar

Rising tensions between Russia and Ukraine caused renewed unease in the markets this week. Putin signed an amendment to Russian nuclear doctrine, which allows Russia to use nuclear weapons for retaliating against strikes carried out with conventional weapons, if they were supported by a nuclear state. The change was an obvious response to US allowing Ukraine […]
12/12/2023

Swiss Franc Shines, Turns to SNB Decision for Fuel

SNB announces its decision at 08:30 GMT Thursday Markets pricing in 25% probability for a rate cut However, that’s unlikely to happen so soon Overall, outlook for Swiss franc remains positive Swiss economy slows The Swiss economy hit a road bump lately. Economic growth almost came to a standstill in the third quarter, printing just […]