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EUR/USD Mid-Day Outlook - Action Forex
Intraday bias in EUR/USD stays mildly on the downside at this point. Pullback from 1.1572 short term top could extend lower. But downside should be contained by 38.2% retracement of 1.0176 to 1.1572 at 1.1039. On the upside, break of 1.1572 will resume larger up trend.
USD/JPY Mid-Day Outlook - Action Forex
Intraday bias in USD/JPY remains on the upside as rebound from 139.87 short term bottom is in progress. While further rise could be seen, overall risk will stay on the downside as long as 38.2% retracement of 158.86 to 139.87 at 147.12 holds. On the downside, below 141.51 minor support will bring retest of 139.87. Decisive break of 139.26 key support will carry larger bearish implications.
Markets Steady as US Yields Dip Amid Continuous Tariff Rumors - Action Forex
Global financial markets are relatively stable heading into the end of the week, with risk appetite showing further signs of improvement. European equities are trading modestly higher, following rebounds seen earlier in Japan and Hong Kong. However, US futures are slightly in the red despite strong earnings reports from tech heavyweights Alphabet and Intel. Still, one supportive development is the continued pullback in US Treasury yields, with the 10-year dipping below 4.3% mark—viewed as a positive sign for US assets.
Sunset Market Commentary - Action Forex
No dominant market moving story or headlines to guide broader markets today. President Trump’s communication on next steps in the developing (or non-developing) trade negotiations with trading partners are not unequivocal and subject to debate. In an interview with Time, the US President indicates that he expects to conclude trade deals with partners in the next three to four weeks.
The Weekly Bottom Line: Searching for the Signal Amidst A Lot Of Noise - Action Forex
Disentangling the signal from the noise on U.S. trade matters is becoming an increasingly difficult task. This week, President Trump and U.S. Treasury Secretary Scott Bessent both called out the tariffs on China as being “too high”.
GBP/USD Mid-Day Outlook - Action Forex
Intraday bias in GBP/USD is turned neutral with 4H MACD crossed above signal line. Pullback from 1.3422 short term top could still extend lower. But downside should be contained by 38.2% retracement of 1.2099 to 1.3422 at 1.2917. On the upside, firm break of 1.3433 will resume larger up trend.
Weekly Focus - Cautious Optimism - Action Forex
Early, yet still uncertain rumours of de-escalating tariffs between the US and China sparked a cautious rebound in markets' risk appetite. Sources story from the Wall Street Journal suggested that the White House was considering cutting the tariff rate to 50-65% from the current 145%. US Treasury Secretary Scott Bessent affirmed that the current tariffs against China are 'unsustainable' but also that any reductions would have to be agreed mutually. China's foreign ministry denied that the two countries are currently in any negotiations, even if the door for talks is still open. In any case, US equities, Treasuries and the USD recovered ground after the broad-based sell-off over recent weeks.
Week Ahead: US GDP, Inflation and Jobs in Focus Amid Tariff Mess – BoJ Meets - Action Forex
There was finally some relief for financial markets in the past week when US President Trump offered investors a rare glimmer of hope that there is light at the end of the trade war tunnel. However, it didn’t take long for the light to start dimming again as the trade conflict took another complicated turn after it became apparent that the Trump administration’s climbdown in the standoff against China isn’t as big as previously anticipated.
Gold Probes Again Through Key Supports But Initial Signals Still Need Confirmation - Action Forex
Gold price fell on Friday after recovery attempts previous day failed to regain pivotal barriers at $3371 (broken Fibo 23.6% of $2956/$3500) and $3400 (psychological) and signal that corrective phase off new all-time high is over.
Canada retail sales fall -0.4% mom in Feb, but core spending offers rebound hopes - Action Forex
Canadian retail sales declined by -0.4% mom to CAD 69.3B in February, in line with market expectations. The overall weakness was driven primarily by a -2.6%mom drop in motor vehicle and parts dealers, with all four store categories in the subsector posting declines.
Canada: Retail Sales Decline for the Second Consecutive Month amid Tariff Storm - Action Forex
Retail sales remained sluggish in February, weighed down by weaker car sales, but March data point to a bounce back, likely driven by Canadians pulling forward major purchases and stockpiling non-discretionary items ahead of incoming tariffs.
USD/CHF Mid-Day Outlook - Action Forex
USD/CHF's corrective recovery from 0.8038 is still in progress and intraday bias stays on the upside. Further rise would be seen but upside should be limited by 38.2% retracement of 0.9200 to 0.8038 at 0.8482. On the downside, below 0.8196 minor support will bring retest of 0.8038. Firm break there will resume larger down trend.
Markets Weekly Outlook - Data Dump Ahead as Tariff Concerns Linger - Action Forex
Global stocks ended the week on a solid note as early week concerns around Federal Reserve independence and the ongoing US-China trade war dissipated. President Trump and Treasury Secretary Bessent have tempered rhetoric as they eye a deal with China.
Weekly Economic & Financial Commentary: Fed Remains in a Holding Pattern - Action Forex
The tone from this week's Fedspeak maintained the majority opinion the FOMC held at its March meeting—a desire to hold rates steady on account of above-target inflation and elevated uncertainty. It appears most officials are comfortable waiting to assess the comprehensive impact of pending policy shifts before making further adjustments to the federal funds rate.
Canada’s Elections Put North American GDP Data in Focus - Action Forex
With Canadians heading to the polls on Monday, we’re watching February’s gross domestic product report on Wednesday, including an early estimate for March, for clues on what type of economy the next government inherits as tariff headwinds continue to build.
USD/JPY Daily Outlook - Action Forex
Intraday bias in USD/JPY remains mildly on the upside. Rebound from 139.87 short term bottom could extend higher. But overall risk will stay on the downside as long as 38.2% retracement of 158.86 to 139.87 at 147.12 holds. On the downside, decisive break of 139.26 will carry larger bearish implications.
AUD/USD Daily Report - Action Forex
AUD/USD is staying in consolidations below 0.6438 and intraday bias stays neutral. Further rally is expected as long as 55 D EMA (now at 0.6302) holds. Above 0.6438 temporary top will resume the rebound from 0.5913 to 61.8% retracement of 0.6941 to 0.5913 at 0.6548. However, sustained trading below 55 D EMA will argue that the rebound has completed and turn bias back to the downside.
EUR/USD Daily Outlook - Action Forex
No change in EUR/USD's outlook and intraday bias stays mildly on the downside. Pullback from 1.1572 short term top could extend lower. But downside should be contained by 38.2% retracement of 1.0176 to 1.1572 at 1.1039. On the upside, break of 1.1572 will resume larger up trend.
GBP/JPY Daily Outlook - Action Forex
GBP/JPY's rebound from 184.35 extended higher today and break of 190.06 resistance suggests that fall from 195.95 has completed already. Intraday bias is back on the upside for 195.95 resistance next. Firm break there will argue that whole choppy decline from 199.79 has finished too. On the downside, below 187.45 will bring retest of 184.35 support instead.
EUR/GBP Daily Outlook - Action Forex
Intraday bias in EUR/GBP remains neutral and consolidation from 0.8737 might extend. Still, further rise is expected as long as 0.8518 support holds. On the upside, 0.8622 minor resistance will bring retest of 0.8737 first. Firm break there will resume the larger rally from 0.8221. However, sustained break of 0.8518 will bring deeper fall back to 55 D EMA (now at 0.8447).
EUR/JPY Daily Outlook - Action Forex
Range trading continues in EUR/JPY and outlook is unchanged. Intraday bias remains neutral. On the upside, above 164.16 will resume the rally from 154.77 to 164.89 resistance, and then 166.67. However, decisive break of 158.27 support will bring deeper decline back to 154.77 support. Overall, sideway consolidation pattern from 154.40 is still extending.
De-escalation of Trade Tensions, Dovish Fed Comments, Alphabet Earnings Boost Appetite - Action Forex
Yesterday allowed global risk investors to take a deeper breath. Dovish comments from Federal Reserve (Fed) members, and de-escalation of trade tensions between the US and China allowed a further recovery in global equities. Optimism was backed today by the Chinese announcement that it is considering easing tariffs on some US imports, further signalling de-escalation of trade tensions and supporting earlier comments from the Trump administration that triple-digit tariffs could come ‘substantially’ down.
EUR/AUD Daily Outlook - Action Forex
Intraday bias in EUR/AUD remains neutral first, as consolidations from 1.8553 continues. Downside of pull back should be contained by 38.2% retracement of 1.5963 to 1.8854 at 1.7750. On the upside, above 1.8014 minor resistance will bring retest of 1.8554 first. Firm break there will resume larger up trend. However, firm break of 1.7750 will bring deeper fall to 55 D EMA (now at 1.7335).
Markets Saw Some ‘Openings’ Fed Could Give More Weight to Labour Market - Action Forex
On the monetary policy front, markets saw some ‘openings’ that the Fed in its dual mandate (over time) could give some more weight to labour market developments rather than to inflation. Cleveland Fed President Beth Hammack indicated that the Fed could move in June IF they have clear and convincing data by then.
EUR/CHF Daily Outlook - Action Forex
EUR/CHF's break of 0.9408 resistance argues that fall from 0.9660 has already completed at 0.9218. Intraday bias is back on the upside for stronger rebound back to 0.9660. But strong resistance could be seen there to limit upside. After all, larger down trend is expected to continue through 0.9204 low as long as 0.9960 holds.
GBP/USD Daily Outlook - Action Forex
Intraday bias in GBP/USD remains mildly on the downside at this point. Pullback from 1.3422 short term top would continue lower. But downside should be contained by 38.2% retracement of 1.2099 to 1.3422 at 1.2917. On the upside, firm break of 1.3433 will resume larger up trend.
USD/CHF Daily Outlook - Action Forex
Intraday bias in USD/CHF remains mildly on the upside for the moment. Corrective recovery from 0.8038 short term bottom could extend to 38.2% retracement of 0.9200 to 0.8038 at 0.8482. But upside should be limited there. On the downside, break of 0.8038 will resume larger down trend.
EUR/USD Stuck in Consolidation: Rumours Abound, But Facts Remain Scarce - Action Forex
The EUR/USD pair has formed a consolidation range around 1.1358. We anticipate the downward wave to continue towards 1.1280, followed by a potential corrective rebound to 1.1427. A subsequent decline towards 1.1045 remains plausible. This scenario is technically supported by the MACD indicator, with its signal line firmly below zero and pointing downward.
EUR/GBP Daily Outlook - Action Forex
Outlook in EUR/GBP is unchanged and intraday bias stays neutral. More consolidations could be seen below 0.8737 short term top. Further rise is expected as long as 0.8518 support holds. On the upside, break of 0.8737 will resume the larger rally from 0.8221. However, sustained break of 0.8518 will bring deeper fall back to 55 D EMA (now at 0.8444).
EUR/AUD Daily Outlook - Action Forex
Outlook in EUR/AUD is unchanged as consolidation continues below 1.8554 short term top. Downside of pull back should be contained by 38.2% retracement of 1.5963 to 1.8854 at 1.7750. On the upside, firm break of 1.8554 will resume larger up trend. However, firm break of 1.7750 will bring deeper fall to 55 D EMA (now at 1.7324).