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The stronger-than-anticipated core inflation data initially sent shockwaves through US equities overnight, sparking a deep sell-off. However, tech stocks led a remarkable recovery, with all major indexes finishing in green. Notably, S&P 500 posted a remarkable reversal, ending the day up more than 1% after having fallen over -1% intraday—a feat not seen since 2022. […]

The post Impressive Stock Reversal after CPI Setback, Eyes Now on ECB Rate Cut appeared first on Action Forex.

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Yen’s Decline, Robust US Investor Confidence, and Aussie’s Rise
27/04/2024

Yen’s Decline, Robust US Investor Confidence, and Aussie’s Rise

Last week’s market activity was shaped by several significant themes. Firstly, the Japanese Yen’s rapid decline caught market participants off guard. The sell-off was exacerbated by what many considered tepid verbal interventions from Japanese officials. Current momentum suggests that the Yen’s free fall is far from over. The key is whether Japan will step up […]
New Zealand Dollar Rises on Robust Domestic Data; Market Awaits BoJ’s Pivotal Decision
18/12/2023

New Zealand Dollar Rises on Robust Domestic Data; Market Awaits BoJ’s Pivotal Decision

New Zealand Dollar strengthens broadly in an otherwise quiet Asian session today, leading Aussie along with it. This notable rise can partly be attributed to two key domestic factors: a significant improvement in consumer sentiment and robust data from the country’s services sector. In the broader context, Kiwi’s strength is also accentuated by monetary policy […]
Yen Regaining Ground, GBP/AUD Staying Bullish Despite Loss of Momentum
12/02/2024

Yen Regaining Ground, GBP/AUD Staying Bullish Despite Loss of Momentum

Japanese Yen stages a broad recovery today, buoyed by notable retreat in European benchmark yields. Meanwhile, Dollar is softening against Yen, yet holding its ground across other major currencies. New Zealand Dollar emerges as the day’s underperformer, yet its losses remain contained within Friday’s range against all counterparts. Sterling and Euro follow closely as the […]