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Markets European markets today enjoyed some kind of a risk-on catch up move. A record close of the US S&P 500 above the 5500 mark yesterday apparently also inspired European investors (Eurostoxx 50 +1.3%). On French/intra-EMU bond markets, the risk premia also narrowed slightly further. The French 10-y spread over Bunds eased to 68 bps […]

The post Sunset Market Commentary appeared first on Action Forex.

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28/06/2024

GBPJPY Unlocks New 16-Year High

GBPJPY posts several green days RSI and stochastics are overstretched GBPJPY is recording the tenth consecutive green day, posting a fresh 16-year high of 203.57. The market is looking positive, but the technical oscillators are suggesting overstretched momentum. The RSI is flattening near the 70 level, while the stochastic is moving horizontally above the 80 […]
10/04/2024

Is CADJPY Setting the Ground for Next Bull Run?

CADJPY remains within a range despite hitting new high Upside risks exist above 111.50; bears could take the lead below 110.40 BoC rate decision at 13:45 GMT is the highlight of the Canadian calendar CADJPY remained stagnant after entering the 112.00 area, keeping its weak momentum despite reaching a new high of 112.46 last week […]
27/06/2024

USD/JPY Steady as BOJ Watches With Sense of Urgency

Japanese yen remains below 160 USD/JPY is trading at 160.38 early in the North American session, down 0.25% on the day. The Japanese yen has been trading below 160 on Thursday, after dropping as low as 160.87 on Wednesday, its lowest level since December 1986. As the yen continues to hit new lows, there are […]