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The Euro edged higher on Thursday morning and partially reversed a two-day pullback from new multi-week high (1.0915), but today’s action was so far choppy and lacking direction, as traders await the verdict from the ECB later today. The European Central Bank policymakers meet today and widely expected to deliver the first rate cut by […]

The post EUR/USD: Bulls Hold Grip Ahead of Key Event – ECB Policy Decision appeared first on Action Forex.

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09/12/2023

Bank of England Preview – We Still Favour the Topside in EUR/GBP

We expect the Bank of England (BoE) to keep the Bank Rate unchanged at 5.25% on 14 December, which is in line with current market pricing.  Overall, we expect the MPC to stick to its previous guidance emphasising the “higher for longer” approach and pushing back on market pricing of rate cuts. We expect a […]
18/09/2024

USDJPY Experiences Renewed Decline as Market Adjusts Expectations

The USDJPY pair is currently stabilising around 141.44 on Wednesday, following a brief strengthening of the US dollar which impacted the yen negatively the previous day. Despite this, the overarching downward trend for the pair persists. Tuesday witnessed strong US retail sales data, bolstering the dollar’s strength temporarily and leading to a correction in the […]
07/05/2024

Yen Rally Fizzles as US Dollar Climbs

The Japanese yen is sharply lower on Monday after stringing together a three-day rally.  USD/JPY is trading at 153.92, up 0.62% at the time of writing. The yen took traders on a roller-coaster ride last week. The Japanese yen fell below the 160 level on Monday, setting another 34-year record before recovering. On Wednesday, the […]