Month: July 2023

Today’s focus is on the US CPI data, which experts believe will be better than expected. The forecasted US CPI m/m is 0.3%, and y/y is 3.1%, a positive sign for the market as the Read more…

Daily Pivots: (S1) 153.90; (P) 154.79; (R1) 155.39; More…. EUR/JPY’s fall from 157.99 is in progress and intraday bias remains on the downside. Sustained trading below 154.03 support will argue that it’s at least correcting Read more…

Stock markets are tentatively higher on Wednesday as traders adopt a cautious position ahead of the US inflation report. Any hopes of another pause from the Fed this month have dwindled in recent weeks as Read more…

The US dollar extended losses after breaking a long-term ascending channel base yesterday. The British pound rallied on yet another stronger than expected wages growth data released yesterday morning. Average weekly earnings excluding bonuses increased Read more…

4-week of decline has almost reached 31,530 key medium-term support Oversold condition with the formation of hourly bullish “Hammer” Japanese candlestick Key intermediate resistances will be at 32,730 and 33,200 This is a follow-up analysis Read more…

RBA Governor Philip Lowe noted the current economic outlook is a “complex picture” with significant uncertainties”. He said in a speech today, “the Board decided that, having already increased rates substantially, it was appropriate to Read more…

NZD/USD inches higher today, following RBNZ decision to hold its interest rate steady at 5.50%. However, this uptick seems more driven by prevailing slight risk-on sentiment, and a weaker Dollar rather than the central bank’s Read more…

The Monetary Policy Committee today agreed to leave the Official Cash Rate (OCR) at 5.50%. The level of interest rates are constraining spending and inflation pressure as anticipated and required. The Committee agreed that the Read more…

The post Eco Data 7/12/23 appeared first on Action Forex.

The post Eco Data 7/12/23 appeared first on Action Forex.