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Fundamental Analysis The pound has faced strong bearish pressure following statements from Bank of England Governor Andrew Bailey, who hinted that the institution might adopt a more proactive stance on rate cuts if inflation continues to decline. Additionally, the September services and composite PMI data came in at 52.4 and 52.6, respectively, below previous figures […]

The post GBPUSD Seeking Supply Zones After Thursday’s Massive Sell-off appeared first on Action Forex.

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28/03/2024

GBP Consolidates Amid Concerns Over Economic Growth and Wage Trends

The GBP/USD pair is currently consolidating, hovering around the 1.2631 mark. This consolidation phase follows recent reports highlighting a slowdown in the expansion plans of British businesses for workforce and wage growth, raising concerns about future economic dynamics and inflationary pressures. A key report from the Lloyds Bank Business Barometer indicates a noticeable dip in […]
06/02/2024

AUD/USD Rate Rises after RBA Decision

This morning the Central Bank of Australia decided to keep the interest rate at the same level = 4.35%, as expected. However, RBA management said that further rate hikes cannot be ruled out as inflation is still too high. This is a clear signal that policy easing is unlikely in the near future. AUD/USD has […]
05/04/2024

Canadian Dollar Edges Lower Ahead of Canadian, US Job Reports

The Canadian dollar is slightly lower on Friday. In the European session, USD/CAD is trading at 1.3559, up 0.12%. Canada and the US will both release employment data later today, which could mean some volatility from USD/CAD in the North American session. Employment in Canada is expected to drop to 25,000 in March, a significant […]