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The EUR/USD pair is hovering around 1.0503, extending its rally since midweek. The major currency pair has climbed to a two-month high, with market sentiment favouring further gains. Key drivers behind EUR/USD’s rise A decline in US Treasury bond yields has weighed on the US dollar, following a series of weaker-than-expected US economic reports and […]

The post EUR/USD Poised to Renew Two-Month Highs as Buying Momentum Builds appeared first on Action Forex.

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22/08/2024

Euro Edges Lower on Mixed Eurozone PMI

The euro is steady on Thursday. In the European session, EUR/USD is trading at 1.1136 at the time of writing, down 0.11% on the day. Eurozone services accelerates, manufacturing dips down There was mixed news from the eurozone PMIs, which provide a monthly report card for the services and manufacturing sectors. The services PMI climbed […]
24/09/2024

China Gets Serious About Boosting Growth

Support from the world’s major central banks, and the dovish expectations continue to rise this week. After lowering its 14-day reverse repo rate yesterday, the People’s Bank of China (PBoC) announced today that it will lower its 7-day reverse repo rate from 1.7% to 1.5% and its reserve rate – the amount of money that […]
02/09/2024

WTI Outlook: Oil Prices Remain Under Pressure on Demand Concerns, OPEC Production Increase

Oil price fell further in early Monday, in extension of Friday’s 3% drop (the biggest daily loss since Aug 14). The sentiment weakened further on renewed concerns about demand from the US and China, partial reopening of Libya’s oil installation and decision from OPEC to increase production by 180,000 barrels per day in October, partially […]