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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% […]

The post BoE Still Has Work to Do to Bring Inflation Back Under Control appeared first on Action Forex.

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USDJPY Reapproaches Multi-Year Highs

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05/08/2024

USD/JPY: Falls to Eight-Month Low, Eyes Key 140.00 Support Zone

USDJPY fell sharply overnight, hitting the lowest since early January, extending steep bear-leg off 155.21 lower top into fifth consecutive day. The pair was down 3.3% in Asian session on Monday, remaining under increased pressure after downbeat US NFP data further soured dollar’s sentiment. Large bearish candle of last week (USDJPY was down 4.7% for […]
17/06/2024

Does EURCHF Correction Have Legs?

EURCHF drops to a 4-month low Significant correction over the past 15 days Momentum indicators confirm the bearish pressure EURCHF has been on a freefall since late May with the move picking up pace following the recent European elections and the first ECB rate cut. This pair is currently trading at a 4-month low, around […]
09/01/2024

Swiss National Bank Suffered Losses of 3 Billion Francs in 2023

The Swiss National Bank (SNB) reported an annual loss of 3 billion Swiss francs (USD 3.54 billion) in 2023 and said it would not make payments to Switzerland’s central or local government or pay dividends to investors. The loss is believed to have occurred as a result of interest rate hikes aimed at fighting inflation. […]