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Key insights from the week that was. January’s Westpac-MI Consumer Sentiment survey suggests the Australian consumers’ mood soured over the holiday period. Following a –2.0% dip in December, the headline index fell another 0.7% to 92.1 in January. That said, most of the constituent sub-indexes did not deteriorate during the month, including the one-year outlook […]

The post Cliff Notes: Continued Labour Market Resilience Constructive for Outlook appeared first on Action Forex.

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USD/JPY Pulls Back: Is This The Start of Larger Correction?

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05/07/2024

USD/JPY Recedes From Peaks: Analyzing The Pullback

Key Highlights USD/JPY climbed to a new multi-year high at 161.95 before it corrected lower. It traded below a key bullish trend line with support at 161.50 on the 4-hour chart. EUR/USD extended gains above the 1.0785 resistance zone. Oil prices might soon attempt to clear the $85.00 resistance. USD/JPY Technical Analysis The US Dollar […]
02/12/2024

XAG/USD Analysis: Silver Price Balances at Key Support

As reflected in the XAG/USD chart, the price of silver this morning is trading near $30.2, just above a critical support zone formed by: → The psychological level of $30.00; → The lower boundary of the ascending channel. As indicated by the blue arrows, this lower boundary has consistently provided support, enabling bullish reversals in […]
07/02/2024

NZD/USD Shrugs after NZ Employment Report

New Zealand’s unemployment rises, wages ease The New Zealand dollar is drifting on Wednesday, after jumping 0.73% a day earlier. In the North American session, NZD/USD is trading at 0.6104, up 0.12%. New Zealand’s employment change rises New Zealand’s employment report for the fourth quarter indicated that the labour market remains relatively strong. Employment rebounded […]