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Federal Reserve (Fed) Chair Jerome Powell reiterated yesterday that the Fed is not in a rush to cut rates but that it will cut sometime this year and that the recent jump in inflation didn’t ‘materially’ change their policy outlook. The latter was enough to send the market higher with joy. On the data front […]

The post Euro, Sterling Bears Bulldozed by Fed Doves appeared first on Action Forex.

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AUDUSD Continues the Bounce Off 0.6475 Mark

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14/08/2024

AUDUSD Wave Analysis

AUDUSD reversed from support zone Likely to rise to resistance level 0.6650 AUDUSD currency pair recently reversed up from the powerful support area located between the long-term support level 0.6370 (which has been reversing the price from last November) and the lower daily Bollinger Band The upward reversal from this support area created the daily […]
14/03/2024

Sunset Market Commentary

Markets ECB’s Stournaras this morning hijacked the headlines. The Greek governor said rates need to be cut soon: twice before the summer break (in August) and twice before the end of the year. He expects the first one to happen in June. Dutch hawk Knot sided with his Greek colleague insofar he is penciling in […]
02/05/2024

FX Interventions Do Not Change a Currency’s Fundamental Course

Markets The Fed kept the policy rate stable at the 5.25%-5.50% range yesterday. The statement did feature some changes, including that “In recent months, there has been a lack of further progress toward the Committee’s 2 percent inflation objective.” It also announced that the Fed will reduce the pace of QT in Treasuries from $60bn […]