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Dollar took a notable downturn in the Asian session, and picking up downward momentum too, following a weekend poll that showed Democratic presidential candidate Kamala Harris edging ahead of former President Donald Trump in Iowa. Although Harris’s 47% to 44% lead falls within the 3.4% margin of error, this development marks a significant shift in […]

The post Dollar Slides as Harris Takes Iowa Lead; FOMC Adds to High-Stakes Election Week appeared first on Action Forex.

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Risk-On Sentiment Drives Asian Markets; Focus Shifts to SNB Rate Decision
26/09/2024

Risk-On Sentiment Drives Asian Markets; Focus Shifts to SNB Rate Decision

Asian markets are maintaining a risk-on tone today, despite the lackluster US market performance overnight. Sentiment remains buoyed by China’s recent monetary stimulus measures, even as doubts linger about their overall effectiveness due to the absence of significant fiscal support. Nevertheless, stocks in Hong Kong and China continue to trade higher. In Japan, Nikkei is […]
NZD Tanks After RBNZ Cut, UK and US CPI for Next Volatility Wave
14/08/2024

NZD Tanks After RBNZ Cut, UK and US CPI for Next Volatility Wave

New Zealand Dollar plunged today after RBNZ unexpectedly cut interest rates by 25bps, marking the first reduction in this easing cycle. This move came much earlier than the market’s anticipation of a rate cut in October or November. The selloff gained further momentum after RBNZ Governor Adrian Orr disclosed that a 50bps cut had been […]
Yen and Aussie Soften in the Wake of Yuan’s Decline
11/12/2023

Yen and Aussie Soften in the Wake of Yuan’s Decline

Chinese Yuan’s significant selloff in Asian session today had a ripple effect across several major currencies, dragging down Japanese Yen, Australian Dollar, and New Zealand Dollar. This movement was largely spurred by concerning data from China indicating deepening deflation, which also negatively impacted Hong Kong’s stock market. Yuan’s future trajectory now hinges critically on a […]