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The U.S. Federal Reserve is widely expected to stand pat on the fed funds range for a fifth consecutive meeting on Wednesday. But any shift in the monetary policy statement language will be closely watched after two straight months of upside surprises on inflation. Markets continue to expect the first interest rate cut in June […]

The post Fed to Keep Rates Unchanged for a Fifth Meeting Even as Inflation Risks Lurk appeared first on Action Forex.

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24/06/2024

Japanese Yen Grabs Most Attention This Morning

Markets The Japanese yen grabs most attention this morning. Dollar strength pushed USD/JPY last Friday above 159.50 following stronger-than-expected June PMI’s and the pair is still flirting with the 160 mark this morning (34-yr JPY low). This level prompted FX interventions to the tune of almost JPY 10tn by the Japanese Ministry of Finance at […]
29/04/2024

USDJPY Wave Analysis

USDJPY broke key resistance level 155.00 Likely to rise to resistance level 160.00 USDJPY currency pair recently broke the key resistance level 155.00, which led to the acceleration of the active impulse waves 3 and (3). The pair earlier broke the major resistance level 151.25 (which has been reversing the pair from 2022) – which […]
19/08/2024

Gold (XAU/USD) Eyes Consolidation Above $2500/oz. Will Bulls Hold the Line?

Gold prices surpassed the $2500/oz level on Friday despite a decrease in the likelihood of a 50 bps cut at the Federal Reserve’s September meeting. The rally in gold prices is attributed to dovish remarks by Federal Reserve policymakers and concerns over rising tensions in the Middle East. From a technical standpoint, the weekly chart […]