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In focus today In the euro area, focus today will be on the euro area PMIs for April. The previous months’ PMIs have shown a return of the two-speed economy with the service sector in expansionary territory and manufacturing sector stuck in contraction. We expect that service PMIs will remain above 50 as rising real […]

The post Focus on April PMIs Today appeared first on Action Forex.

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NZDUSD Bounces Off 5-Month Low

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04/12/2024

Front End Yields Remain More Vulnerable Since a December Rate Cut by Fed Still Not Fully Priced in.

Markets Yesterday’s shock decision by South Korean president Yoon of the conservative People Power Party to declare martial law spiced up an otherwise uneventful trading session. Yoon backtracked after parliament voted unanimously against. The opposition, which holds a majority, moved to impeach Yoon with a vote possible as soon as this Friday. Yoon’s exit is […]
10/07/2024

NZD/USD Outlook: Kiwi Dollar Down 1% on Dovish RBNZ

NZDUSD was sharply lower during Wednesday morning (down almost 1% for the session) deflated by the Reserve Bank of New Zealand’s dovish stance. The central bank left interest rates unchanged at 5.5%, as widely expected, but signaled that the door for possible rate cut remains open, should inflation continue to ease in line with expectations. […]
08/08/2024

USDCAD Wave Analysis

USDCAD reversed from long-term resistance level 0.8430 Likely to fall to support level 1.3700 USDCAD currency pair recently reversed down from the resistance zone located between the long-term resistance level 0.8430 (which stopped the weekly uptrend at the end of 2023) and the upper weekly Bollinger Band. The downward reversal from the resistance zone created […]