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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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16/09/2024

EUR/USD Outlook: Euro Rises Further on Weaker Dollar

EURUSD rises for the third straight day, benefiting from weaker dollar on speculations of the magnitude of Fed’s rate cut on Wednesday. Recovery leg from a higher base (formed after a double rejection just above psychological 1.10 support) retraced so far 61.8% of 1.1201/1.1002 pullback, adding to upside prospects. Improved picture on daily chart (MA’s […]
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