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In focus today Today is a quieter day in terms of releases due to International Workers’ Day, which is a public holiday in many European countries. In the US, the April ISM Manufacturing index is due for release in the afternoon. The regional Fed manufacturing surveys are pointing towards a clear decline as earlier front-loading […]

The post US GDP Contracts for the First Time in Three Years appeared first on Action Forex.

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GBP/USD Corrects Gains While USD/CAD Dips

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22/03/2024

GBP/USD Faces Sharp Decline Amid BoE’s Monetary Policy Stance

As of Friday, the GBP/USD pair hovered around 1.2642, following a substantial decline. The Bank of England (BoE) has yet to find reasons to lower the interest rate, indicating intentions to maintain high rates for an extended period to support the necessary inflation level in the country. The BoE’s monetary policy remains restrictive. In its […]
20/02/2024

Is the US 100 Cash Index Close to a Correction?

US 100 index is in red today, testing the support set by a key trendline It remains a tad below its all-time high as the market looks for new bullish catalysts Stochastic oscillator is trying to send a bearish message The US 100 cash index is lower today, testing the support set by the October 26, […]
23/04/2024

Without of Hawkish Stance from BoJ, USD/JPY Will Likely Continue Upside Trajectory

The week started on a hopeful note after the de-escalation of tensions between Israel and Iran. Gold shortly fell below $2300 per ounce in Asia. Brent dipped below the $86pb level, as US crude tested the 50-DMA to the downside. Equities rebounded. The Stoxx 600 index jumped past the 50-DMA and the 500 psychologic mark, […]