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Traders are getting back to their desks after a prolonged weekend – Both the United States and Canada were celebrating Labor Day yesterday. The week prior to Labor Day tends to see slower movement and thinner volumes and despite recent volatility, this year was not an exception. Rangebound conditions have dominated currency markets since Powell’s […]

The post Dollar Strengthens After Labor Day – DXY Technical Outlook appeared first on Action Forex.

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03/02/2025

Budget Skies Are Clearing for GBP; BoE to Cut

GBP is left vulnerable given the UK’s fragile position with a high public debt, public deficit and current account deficit. BoE preview – we expect the BoE to reiterate the message of a favouring gradual approach to the cutting cycle (page 2). We are strategically bearish on EUR/GBP; we recommend fading debt concern related rallies. […]
07/03/2024

All Eyes on the ECB

In focus today The Governing Council of the ECB is meeting today. Besides the regular rate announcement, we will also get updated staff projections. The new projections are likely to show inflation for 2025 revised down to 2%. Whereas neither the revised projections nor Lagarde are likely to close the door to a rate cut […]
28/05/2025

Bitcoin Holds Steady — Is a Fresh Rally Just Around The Corner?

Key Highlights Bitcoin started a major increase above the $105,000 resistance and traded to a new all-time high. BTC/USD is trading above a connecting bullish trend line with support at $108,000 on the 4-hour chart. Ethereum is showing positive signs above the $2,500 level. XRP price is consolidating and facing hurdles near $2.50. Bitcoin Price […]