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According to data published today by the Australian Bureau of Statistics, the Consumer Price Index (CPI) value was: actual 3.4%, expected = 3.6%, a month ago = 3.4%, 2 months ago = 4.3%. Data shows Australia’s consumer price growth rate is slowing, approaching targets of around 2%. This means less pressure on the Reserve Bank […]

The post Australian Dollar Weakens Amid Inflation News appeared first on Action Forex.

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14/08/2024

NZDUSD Hits a Wall at 200-Day SMA

NZDUSD had been in a recovery mode since early August But 200-day SMA rejects advance after dovish RBNZ meeting Oscillators deteriorate, yet remain neutral-to-positive NZDUSD had been steadily regaining ground since the beginning of the month after finding its footing near the previous 2024 low of 0.5851 registered in April. However, the rebound paused at the 200-day […]
06/09/2024

Analysis of XAU/USD: Gold Price Holds Near Key Resistance

As shown on the XAU/USD chart today, the price of gold is: → above the psychological level of $2,500 per ounce; → near a key resistance marked by a red line labelled Support 2. This line has been preventing further price growth several times since 20 August, when the all-time high was reached. If the […]
27/08/2024

GBPUSD: Is the Next Downturn Approaching?

GBPUSD’s bull run slows down near a familiar resistance area Some stability is likely; sellers need a close below 1.3188 to gain control GBPUSD opened the week with marginal losses after its almost uninterrupted two-week rally was rejected near the key resistance trendline at 1.3229 for the third time. While the bulls are trying to […]