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Dollar attracts safe haven flows amid trade anxiety. US inflation data could shake July Fed cut probability. UK, Canadian and Japanese CPI numbers also on tap. Weak Chinese growth may increase calls for more stimulus. Dollar reacts differently to tariff concerns now The dollar has held very well against its major peers this week, although […]

The post Week Ahead – A Storm of CPI Data and China’s GDP in Focus Amid Trade Uncertainty appeared first on Action Forex.

Market Overview The crypto market capitalisation is at $3.66 trillion, having jumped 5.7% in the last 24 hours and approaching the record high of $3.72 trillion set in December. Risk appetite in the stock markets and Bitcoin’s record highs have drawn a wider range of altcoins into the rally, which have begun to catch up […]

The post Bitcoin Breaks Records, Broad Market Just Joining the Rally appeared first on Action Forex.

Daily Pivots: (S1) 1.1659; (P) 1.1705; (R1) 1.1746; More… EUR/USD is still extending correction from 1.1829 and intraday bias stays neutral. Strong support is expected from 1.1630 resistance turned support to bring rebound. On the upside, firm break of 1.1829 will resume the rise from 1.0176 and target 61.8% projection of 1.0176 to 1.1572 from […]

The post EUR/USD Mid-Day Outlook appeared first on Action Forex.

Daily Pivots: (S1) 145.74; (P) 146.27; (R1) 146.77; More… Outlook in USD/JPY remains unchanged as range trading continues. Intraday bias stays neutral. On the upside, firm break of 148.01 resistance will resume the rise from 139.87 to 61.8% retracement of 158.86 to 139.87 at 151.22. However, break of 142.66 will bring deeper fall back to […]

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Surprise! Canada’s economy generated 83k new jobs in June (+0.4% month/month), much better than the consensus expectation for a flat reading. However, the gains were driven by a 70K gain in part-time positions. The unemployment rate fell one tick to 6.9% after trending upwards for three months. Despite the labour force continuing to grow faster […]

The post Canada’s Economy Surprises With a Healthy Job Gain in June  appeared first on Action Forex.

Daily Pivots: (S1) 1.3534; (P) 1.3577; (R1) 1.3620; More… Intraday bias in GBP/USD remains neutral for the moment. Corrective pullback from 1.3787 could extend lower. But downside is expected to be contained by 1.3369 support to bring rebound. On the upside, above 1.3680 minor resistance will bring retest of 1.3787. Firm break of 1.3787 will […]

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