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The Dollar Index keeps firm tone early Thursday following 0.7% bounce previous day, on another failure to sustain break below psychological 100 support. The greenback was lifted by headwinds from 100 zone and improving sentiment, as traders’ view on Fed rate outlook turned hawkish despite dissonant tones from the latest speeches of Fed officials. The […]

The post Dollar Index Outlook: Remains Firm Ahead of US Economic Data and Speeches from Top Fed Officials appeared first on Action Forex.

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15/02/2024

Pound Extends Losses After UK Inflation Unchanged

The British pound continues to lose ground on Wednesday. In the European session, GBP/USD is trading at 1.2546, down 0.35%. UK inflation holds steady at 4.0% The January inflation report showed that inflation didn’t budge but was lower than expected. UK CPI in January didn’t move the needle and held at 4.0% y/y, unchanged from […]
17/09/2024

Further Loss of Interest Rate Support Makes South the Path of Least Resistance for Dollar

Markets With investors counting down to the Fed policy decision on Wednesday, yields moving further south still was the path of least resistance on US (and EMU) interest rate markets. Maybe a bit strange that when discussing a jumbo rate cut at the start of the easing cycle, the long end of the US yield […]
29/08/2024

Euro Tests Key Levels Ahead of Inflation Data

EUR/USD The euro has retreated from its previously reached highs. The 1.12000 level provided strong resistance to buyers, and after testing it twice, the price has corrected to 1.1100. This level has already offered support to the pair last week, so for now, we are seeing range-bound trading between 1.1200-1.1090. What scenarios could unfold in […]