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The week starts with the soothing news that the Chinese traveled and spent more than they did in the same period of 2019. As such, the Chinese stock markets return from the CNY break on a cheery note; the CSI 300 index in the positive while the Hang Seng index, which rebounded up to 5% […]

The post China Travels and Spends More than Pre-Pandemic appeared first on Action Forex.

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Technical Outlook and Review

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Could Eurozone PMI Surveys Open the Door to a March ECB Rate Cut?

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19/04/2024

Eurozone PMIs Eyed as Euro’s Focus Turns to Rate Cuts Beyond June

Eurozone appears to be on the mend but ECB still on track to cut in June For the euro, rate outlook beyond June increasingly more important Flash PMI readings for April are due on Tuesday, 08:00 GMT Will PMIs confirm tepid recovery signs? The euro area economy stagnated in the middle of 2023 but narrowly […]
02/09/2024

EURUSD Pauses Bearish Correction Near 1.1050

EURUSD recoups some losses Finds support near 20-day SMA Stochastics and RSI point north EURUSD is recovering somewhat after three consecutive red days from its 13-month high of 1.1200. The price is flirting with the 20-day simple moving average (SMA) and the 1.1050 support level, while the technical oscillators are showing some improvement. The stochastic […]
17/07/2024

GBP/USD at 1-Year High as UK CPI Remains at 2%

The British pound continues to roll and is up for a sixth straight day. GBP/USD is trading at 1.3038 in the European session, up 0.51% on the day. The pound has sparkled in July, climbing 3% and hitting its highest level since July 2023. UK inflation unchanged UK consumer inflation remained at 2% y/y in […]