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The single currency has been showing a trend of increasingly higher local declines throughout the month. Growth impulses in April and earlier in June hit an invisible soft ceiling approaching 1.15, but this appears to be only a temporary shake-up of positions after an impressive rise and before further growth. The euro is supported by […]

The post Euro Making Its Way Up, Breaking a Long-Standing Trend appeared first on Action Forex.

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22/12/2023

USD Weakness Continues Ahead of Holidays

In focus today The most important data release today will be the US November Personal Consumption Expenditures (PCE). Consensus expects Core PCE inflation to have remained steady in m/m SA terms at +0.2%. Earlier CPI and retail sales data hinted that private consumption has likely continued growing modestly even in real terms. November durable goods […]
08/08/2024

Dollar Index: Limited Recovery Likely to Precede Fresh Weakness as Rate Outlook Weighs

The dollar index ticked lower in European trading on Thursday, after bounce from 8-month low (101.94, posted on Monday) started to lose traction. Weak picture on daily chart (MA’s in bearish configuration / strong negative momentum) warn of limited recovery before bears regain control. The dollar was hit by the recent strong rally of yen, […]
21/05/2024

NZD/USD Steady Ahead of RBNZ Rate Announcement

The New Zealand dollar is almost unchanged on Tuesday. NZD/USD is down 0.06%, trading at 0.6102 in the European session at the time of writing. RBNZ expected to maintain cash rate The Reserve Bank of New Zealand has shown it can be patient, having held the cash rate at 4.35% for six straight times. The […]