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The Australian dollar took a hit after Australian inflation was lower than expected. In the North American session, AUD/USD is trading at 0.6493, down 0.78%. CPI holds steady at 3.4% Australia’s inflation rate remained steady in January at 3.4% y/y, unchanged from December and below the market estimate of 3.6%. This matched the lowest rate […]

The post Australian Dollar Slides After CPI Stays Steady appeared first on Action Forex.

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02/08/2024

GBP/JPY Outlook: Hits New Multi-Week Low

GBPJPY continues to trend lower and fell to the lowest levels since mi-March during European session on Friday. The cross remains in a steep downtrend from 208.11 (July 11 peak, the highest since Aug 2008), fueled by renewed strength of yen, following interventions by Japan’s authorities, while BoE rate cut added pressure on sterling. Strong […]
11/04/2024

EUR/USD: Bears Taking a Breather Ahead of ECB Policy Decision

The Euro remains firmly in red and holding near last week’s low at 1.0725, following a sharp fall on Wednesday (the pair was down 1%). Higher than expected US inflation in March, cooled market expectations for Fed’s first rate cut in June and provided strong boost to US dollar, deflating its major counterparts. Market focus […]
25/04/2024

Euro Turns to GDP and Inflation Data for a Lifeline

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