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The global market turmoil showed no signs of easing as the week began, with Japanese stocks taking a severe hit during Asian session. Both the Nikkei 225 and Topix indices plunged by as much as nearly -10%, marking a -20% drop from their all-time highs on July 11. This selloff extended to the cryptocurrency market, […]

The post Market Rout Deepens Globally: Will ISM Services Provide Relief? appeared first on Action Forex.

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Dollar Gains Traction Ahead of Key Inflation Data, Yen Struggles Despite Stronger Tokyo CPI
28/06/2024

Dollar Gains Traction Ahead of Key Inflation Data, Yen Struggles Despite Stronger Tokyo CPI

Dollar is showing renewed strength in Asian session, particularly against commodity currencies. Market reactions to the televised debate between US President Joe Biden and former President Donald Trump have been muted, with traders shifting their focus to upcoming inflation data. Both headline and core PCE inflation are expected to dip to 2.6% in May. For […]
Australian Dollar Strengthens Modestly on Surprising Inflation Data
29/05/2024

Australian Dollar Strengthens Modestly on Surprising Inflation Data

Australian Dollar is having a modest bounce today after stronger-than-anticipated inflation figures. The data also revealed re-acceleration of inflation for the second consecutive month, with core inflation measures also rising. While most economists still view a further rate hike by RBA as unlikely, today’s surprising data suggests that such a move can no longer be […]
Swiss Franc Rebounds on Strong Inflation Data, Yen Standing Tall
02/05/2024

Swiss Franc Rebounds on Strong Inflation Data, Yen Standing Tall

Swiss Franc saw a significant rebound in European session, driven by stronger-than-expected inflation figures for April. Despite this upside surprise, inflation remained within SNB’s target range of 0-2% for the eleventh consecutive month. Currently, economists are still largely anticipating a further 25 basis point rate cut by SNB in June, which would adjust the policy […]