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Cable remains firmly in red and accelerated lower on Thursday morning, falling over 1% for the session. Sterling came under increased pressure from dovish comments from BoE Governor Bailey, who said the central bank could be more aggressive on rate cuts, adding to expectations for 25 basis points cut at the November 7 policy meeting. […]

The post GBP/USD Outlook: Cable Falls to Three Week Low on Dovish Steer in Rate Outlook appeared first on Action Forex.

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22/04/2024

USD/JPY in Late Stages of an Impulse Ahead of BoJ This Week

With 10 year US yields experiencing only a three-wave drop from a new high last week down to 4.5%, we should anticipate more gains here. This is likely to be positive for the Dollar, especially against the Jpy. Looking at the USDJPY hourly chart, we see a bullish impulse entering its late stages this week […]
11/04/2024

AUDUSD Plummets in the US CPI Aftermath

AUDUSD drops 1.7% on hotter-than-expected US CPI data Violates both 50- and 200-day SMAs before finding its feet Momentum indicators deteriorate drastically AUDUSD had been in a steady advance since the beginning of April, posting a fresh one-month high of 0.6643 on Tuesday. However, the pair experienced a strong decline and erased all its progress following a […]
25/04/2024

US Economy: Slower Growth With Stronger Inflation

The dollar strengthened, and stocks fell after statistical data from the US. The focus was on the preliminary estimate of GDP for the first quarter. Annualised quarterly growth came in at just 1.6%, down from the 2.5% and 3.4% previously forecast. Disappointment increased given that exceeding forecasts has become the norm. GDP growth for the […]