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The NZD/USD exchange rate has dropped from its highest level in nearly five months. On Wednesday, following the release of US inflation data, the NZD/USD rate exceeded 0.6220 for the first time since 15 January 2024. However, today the rate has fallen approximately 1.3% from Friday’s peak, suggesting that the market’s reaction to the US […]

The post NZD/USD Exchange Rate Falls from Nearly 5-Month High appeared first on Action Forex.

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11/01/2024

Sunset Market Commentary

Markets Trading initially was a long-drawn countdown to today’s US December CPI. Investors tentatively positioned for a rather soft report, with US yields easing 3-4 bps before publication of the data. The report brought a modest upside ‘surprise’. Headline inflation increased 0.3% M/M and 3.4% Y/Y from 3.1% in November (3.2% expected). Core inflation excluding […]
19/06/2024

BoE Still Has Work to Do to Bring Inflation Back Under Control

Markets Market focus shifted back to the US yesterday. After last week’s softer than expected price data, US retail sales for the second consecutive month suggested that consumer demand might be slowing. It could point to a better supply-demand balance that might help inflation to slow further. May headline sales only rose a meagre 0.1% […]
25/04/2024

USD/JPY Ticks Higher Ahead of BoJ Meeting

The Japanese yen continues to lose ground on Thursday. In the European session USD/JPY is trading at 155.61, up 0.17%. Earlier, the yen dropped to a 34-year low of 155.74. Friday will be a busy day out of Japan. Tokyo Core CPI, which excludes food, is a key leading indicator of nationwide inflation trends. It […]