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Markets More technical, order driving trading for global markets yesterday. An almost empty eco calendar left investors counting down to upcoming data (EMU CPIs today and tomorrow, US PCE deflators on Friday, key early month data next week) and prevented clear directional moves. A $70 bln US Treasury auction was OK, but hardly left any […]

The post Dollar for Now Fails to Build on Yesterday’s Rebound appeared first on Action Forex.

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15/07/2024

Dollar Losing Interest Rate Support at Stealth Pace

Markets The US dollar is losing interest rate support at stealth pace. Since the awful June service ISM (July 3), the US 2-yr yield fell from 4.75% to 4.45% currently. The US 10-yr yield slid from 4.45% to 4.2%, testing the downside of the downward trend channel. Decent payrolls failed to save the day while […]
19/08/2024

RBA’s Bullock Says No Rate Cuts Coming, Aussie Soars

The Australian dollar has started the week with slight gains. AUD/USD is trading at 0.6685 in the European session, up 0.24% on the day at the time of writing. Earlier today, the Australian dollar rose as high as 0.6694, marking a one-month high. Will RBA minutes shake up the Aussie? Hawkish remarks from Reserve Bank […]
13/02/2024

GBP/USD: Limited Recovery Warns of Prolonged Sideways Mode

Cable ticked higher and hit new highest since Feb 2 in early Monday but was so far unable to sustain gains, keeping the price within congestion which extends into fourth straight day. A double Doji (Fri/Thu) signal indecision as daily studies are mixed and keep near-term price action between 200DMA (1.2564) and falling 10DMA (1.2638). […]