UK consumer inflation was weaker than expected. The annual rate of price increases slowed to 2.8% from 3.0%. It remains well above the local low of 1.7% recorded in September. The latest deceleration is still more of a hope than a signal that inflation is slowing, as the previous reading was the highest since March […] The post UK Inflation Cools Down Pound appeared first on Action Forex ..read more

WTI oil price continues to trend higher for the sixth consecutive day and hit the highest in three weeks on Wednesday. Stronger than expected drop in US crude stocks last week (API report) contributed to the latest acceleration higher, as oil remains supported by growing concerns about potential supply shortage, following a threat from the […] The post WTI: Crude Oil Rises Further on Supply Concerns, Key Barriers Come Under Pressure appeared first on Action Forex ..read more

Daily Pivots: (S1) 1.0769; (P) 1.0800; (R1) 1.0822; More… Intraday bias in EUR/USD Is back on the downside, with breach of 1.0775 temporary low. Corrective fall from 1.0953 is extending lower, but downside should be contained by 38.2% retracement of 1.0358 to 1.0953 at 1.0726 to bring rebound. On the upside, break of 1.0953 will […] The post EUR/USD Mid-Day Outlook appeared first on Action Forex ..read more

Daily Pivots: (S1) 0.8801; (P) 0.8825; (R1) 0.8850; More… USD/CHF is staying in consolidation from 0.8757 and intraday bias stays neutral. In case of stronger recovery, upside should be limited by 0.8911 support turned resistance. On the downside, break of 0.8757 will resume the fall from 0.9200 to 61.8% retracement of 0.8374 to 0.9200 at […] The post USD/CHF Mid-Day Outlook appeared first on Action Forex ..read more

Daily Pivots: (S1) 149.33; (P) 150.14; (R1) 150.72; More… No change in USD/JPY’s outlook and intraday bias stays neutral. Strong resistance is still expected from 150.92 to complete the corrective recovery from 146.52. On the downside break of 148.17 support will bring retest of 146.52 first. Sustained trading below 61.8% retracement of 139.57 to 158.86 […] The post USD/JPY Mid-Day Outlook appeared first on Action Forex ..read more

Daily Pivots: (S1) 1.2909; (P) 1.2938; (R1) 1.2974; More… Intraday bias in GBP/USD remains neutral for the moment. Corrective fall from 1.3013 short term top could still continues. Below 1.2886 will target near term channel support (now at 1.2782) and possibly below. But downside should be contained by 38.2% retracement of 1.2248 to 1.3013 at […] The post GBP/USD Mid-Day Outlook appeared first on Action Forex ..read more

Sterling fell broadly today after UK’s February CPI came in slightly below expectations. However, the selloff has been contained, with markets still expecting the BoE to proceed cautiously with policy easing. In particular, services inflation remained sticky at 5%, signaling that underlying price pressures are not abating as quickly as hoped. Some economists argue that […] The post Sterling Lags After CPI Miss, But BoE Rate Cut to Stay Gradual appeared first on Action Forex ..read more

US durable goods new orders rose 0.9% mom to USD 289.3B in February, much better than expectation of -0.7% mom fall. Ex-transport orders rose 0.7% mom to USD 190.9B, above expectation of 0.4% mom. Ex-defense orders rose 0.8% mom to USD 271.3B. Transportation equipment led the increase, up 1.5% mom to USD 98.3B. Full US […] The post US durable goods orders rises 0.9% mom in Feb, ex-transport orders up 0.7% mom appeared first on Action Forex ..read more

French ECB Governing Council member Francois Villeroy de Galhau signaled there is “still scope for further easing,” though he emphasized that the pace and magnitude remain uncertain. Speaking to Frankfurter Allgemeine Zeitung, Villeroy acknowledged that current market expectations of ECB rates around 2% by summer represent a “possible scenario,” considering Europe’s summer period spans from […] The post ECB’s Villeroy sees room for rate cuts to 2% by summer appeared first on Action Forex ..read more

EUR/USD pulls back ahead of April 2 tariffs. Support at 1.0765; mixed technical signals. Bearish confirmation below 1.0565. EURUSD has extended its retreat from the five-month high of 1.0953, trading lower for the second consecutive week, with the bears steering the price toward the key support near 1.0770. The latest explosive vertical rally stalled below […] The post EUR/USD’s Euphoria Wanes appeared first on Action Forex ..read more