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Australian Dollar surged broadly today following RBA’s decision to leave interest rates unchanged at 4.35%, as widely expected. What caught the market’s attention was RBA’s continued focus on inflation risks, making it clear that the central bank is not considering a rate cut anytime soon. During the post-meeting press conference, Governor Michele Bullock downplayed the […]

The post Aussie Jumps as RBA Holds Steady, Markets Lifted by China’s Stimulus Push appeared first on Action Forex.

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Canadian Dollar Rallies on Strong Job Data, Sterling Support by GDP
10/05/2024

Canadian Dollar Rallies on Strong Job Data, Sterling Support by GDP

Canadian Dollar surges in early US session after much stronger than expected job data that blew past market expectations. The Loonie is taking over Sterling’s position as the best performer of the day, with the latter lifted slightly by strong UK GDP data. At the same time, Dollar is also strengthening slightly against others, but […]
Yen Softens as Rebound Fades; Loonie Looks to Canadian CPI
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Yen Softens as Rebound Fades; Loonie Looks to Canadian CPI

Yen weakened broadly during Asian session today, giving back some of last week’s strong gains that were reportedly driven by Japan’s market intervention. Japan’s Chief Cabinet Secretary Yoshimasa Hayashi repeated in a press conference that it is crucial for currency rates to move “stably” and reflect economic fundamentals. He reiterated the government’s commitment to taking […]
Dollar Hesitates after Stronger than Expected CPI, Sterling Lower on Job Data
12/03/2024

Dollar Hesitates after Stronger than Expected CPI, Sterling Lower on Job Data

Dollar saw only a temporary uplift from stronger-than-expected CPI figures from the US. The greenback reverted to pre-release levels, while stock futures rebounded. Traders appeared to be refraining from taking decisive bets. This reaction suggests that the inflation data, despite being higher than anticipated, may not be sufficiently influential to deter Fed from cutting interest […]