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The AUD/USD pair has climbed to a new peak, reaching 0.6815, marking the highest level since 28 December of the previous year. This strength in the Australian dollar is partly due to the aggressive rate cuts by the US Federal Reserve, which has spurred expectations that other central banks might also ease monetary policies, enhancing […]

The post AUD/USD Reaches New Heights as Risk Sentiment Improves appeared first on Action Forex.

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02/07/2024

Sunset Market Commentary

Markets The pace of Eurozone inflation remained steady at 0.2% M/M in June. The outcome was in line with consensus as could be expected following earlier national prints. The Y/Y-figure slowed from 2.8% to 2.5%. Core inflation rose somewhat faster (0.3% M/M), but this was the slowest pace since January (steady Y/Y at 2.9%). Services […]
08/08/2024

Japanese Yen (JPY) Price Action: Following Dovish BoJ Comments, What Does Price Action Tell Us?

The Bank of Japan (BoJ) released their summary of opinions, accompanied by bearish comments from BoJ policymakers. Geopolitical concerns could bolster the Yen, but the safe haven appeal might be divided among the US Dollar, Yen, and Swiss Franc. From a technical perspective, USD/JPY, GBP/JPY, and EUR/JPY have all rebounded strongly and formed an imperfect […]
17/05/2024

Canadian Inflation Prints to Show Another Step Down in April

Next week’s Canadian April inflation report will be the last major data release before the Bank of Canada’s next interest rate decision on June 5th. Absent an upside surprise, we think the soft conditions in the economy and labour markets should warrant a 25-bps interest rate cut from the BoC in June. In April, we […]