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The week hasn’t been pleasant for the market bulls. On Wednesday, the FOMC minutes showed the disturbing truth that ‘many’ Fed members wondered whether keeping the rates ‘high for longer’ was sufficiently restrictive to tame inflation, and if hiking the rates wouldn’t be a better idea. Then, the UK PM Sunak announced a general election […]

The post Waning Reflation Appetite? appeared first on Action Forex.

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28/03/2024

GBPAUD Wave Analysis

GBPAUD reversed from support level 1.9245 Likely to rise to resistance level 1.9500 GBPAUD currency pair recently reversed up from the support level 1.9245 (lower border of the narrow sideways price range from January), intersecting with lower daily Bollinger Band. The upward reversal from the support level 1.9245 started the active minor impulse wave 3, […]
14/03/2024

USD/JPY: Analysts Adjust Forecasts for Strengthening of Yen

Since the beginning of 2024, the USD/JPY price has been in an uptrend (as shown by the blue channel), but when the rate exceeded the psychological level of 150 yen per US dollar, market sentiment changed. This was due to expectations that the Bank of Japan would take interest rates out of negative territory — […]
29/05/2024

Yields and Chips

The first day back after the long weekend brought traders back down to earth. A weak sale of US 2 and 5-year notes, and Federal Reserve’s (Fed) Neel Kashkari’s comments that the Fed cannot rule out hiking the interest rates as a next move sent the US treasuries lower yesterday. Happily, Mr. Kashkari isn’t a […]