Logo-color Logo-white

USDJPY rose to three-week high (146.49) and subsequently fell over three full figures on Friday, on speculations about new prime minister’s support to BOJ’s further policy tightening, which was seen as a violation of central bank’s independence, initially weakening yen and then sparking strong rally after news proved false. Yen strengthened more after US data […]

The post Japanese Yen Rises 1.3% vs Dollar on Political News/Economic Data appeared first on Action Forex.

previous

Week Ahead – NFP on Tap Amid Bets of Another Bold Fed Rate Cut

next

Sunset Market Commentary

Read More

06/06/2024

DXY: Upbeat US Services PMI Data Provide Fresh Support to Greenback

The dollar index accelerated higher on Wednesday, following much stronger than expected US services PMI data (May 53.8 vs 51.0 f/c and Apr 49.4) which signaled that services sector returned to growth (May figure hit the highest in nine months) and offset negative signals from downbeat labor reports (JOLTS and ADP). Fresh advance cracked strong […]
02/05/2024

USD/CHF Makes a Temporary Reversal After Swiss Inflation Jumps

Swiss CPI figures released earlier today came out above expectations, at 1.4%, leading to a reversal of some recent losses for the Swiss franc against other currencies. Observing the USD/CHF pair, we notice a significant intraday drop that appears to be an impulsive move down from a new high. Ideally, this trend could drive the […]
21/05/2024

Commodity Currencies Retreat from Local Highs

Despite the cooling labour market in the US and declining inflation, the American currency continues to move towards new highs. For instance, the USD/JPY currency pair might update the current month’s high at 156.70, the NZD/USD sharply declines after retesting 0.6140, and buyers of the USD/CAD pair have confidently secured a position above 1.3600. USD/CAD […]