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Anticipation is high for the release of US CPI data, which is expected to influence market movements, especially the US Dollar Index (DXY). The market has priced in an 71.8% chance of a September rate cut, and if inflation aligns with or falls below forecasts, this likelihood could increase. Technically, the DXY is range-bound, hovering […]

The post US CPI Preview: US Dollar Index (DXY) Looks for Guidance from Inflation Data appeared first on Action Forex.

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24/05/2024

USD/JPY Restarts Increase But Lacks Bullish Momentum

Key Highlights USD/JPY started a fresh increase above the 156.00 resistance. It broke a major contracting triangle with resistance at 156.10 on the 4-hour chart. Gold price declined heavily and moved in the red zone below $2,380. Oil prices are still struggling to recover above the $80.00 resistance. USD/JPY Technical Analysis The US Dollar formed […]
20/05/2024

Australian Dollar Eyes RBA Minutes

The Australian dollar is unchanged at the time of writing, trading at 0.6692 in the European session. There are no economic releases out of the US or Australia today, which should translate into a quiet day for AUD/USD. The Aussie is coming off an excellent week, gaining 1.36% and hitting its highest level since January. […]
27/05/2024

Japanese Yen Slightly Rises Against USD

The Japanese yen slightly increased against the US dollar on Monday, with the USD/JPY pair holding near 156.73. Investors have already priced in previous remarks from Bank of Japan (BoJ) officials. BoJ Governor Kazuo Ueda emphasized the need to anchor inflation expectations before revisiting interest rate decisions, highlighting the challenge of accurately determining the necessary […]