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The dollar index rose on Monday after almost equal bets for 25 or 50 basis points Fed rate cut diverged in favor of less aggressive option, cooled by mixed US jobs data which point to orderly slowdown in US labor market. Although the dollar benefited from more dovish signals, markets look for further information to […]

The post Dollar Index Outlook: Dollar Regained Traction After Mixed US Labor Data appeared first on Action Forex.

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30/07/2024

NZD/USD Sinks to Three-Month Minimum, Driven by Rate Speculation and Strengthening USD

The NZD/USD pair plummeted to 0.5892, marking a significant three-month low. The New Zealand dollar remains under pressure as the US dollar gains strength due to the start of the Federal Reserve’s two-day meeting. The Fed is expected to leave the interest rate in the target range of 5.25-5.50% this time. At the same time, […]
19/12/2023

USD/JPY: Strong Acceleration After Dovish BoJ Deflated Yen

USDJPY was sharply up during the late Asian/European session on Tuesday (up 1.3% so far) in strong acceleration after dovish Bank of Japan deflated yen. The central bank kept its ultra-loose monetary policy unchanged and maintained forward guidance, disappointing those who expected signals about the start of tightening cycle. The pair is in near-term recovery […]
13/12/2023

Technical Outlook and Review

DXY: The DXY (US Dollar Index) chart currently has a bullish overall momentum, with price trading within a bullish ascending channel. In this scenario, price could potentially continue its bullish momentum towards the 1st resistance level. The 1st support at 103.28 is considered a swing low support, indicating that it has previously acted as a […]