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Markets Yesterday’s risk-on sentiment, Fed comments and the release of the Minutes of the Fed September meeting all contributed to a gradual, but protracted intraday uptrend in US yields. They closed higher between 7.1 bps (5-y) and 4.7 bps (30-y). Fed comments (Daly, Logan) suggest most governors see inflationary pressures receding while risks to employment […]

The post After Some Hesitation, Dollar Gradually Regaining Traction appeared first on Action Forex.

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24/05/2024

USD/JPY: JPY Weakness Back in Vogue At Least for the Short-Term

The 10-year JGB yield has continued to push higher to 1% together with 3-month and 6-month overnight indexed swap (OIS) rates in Japan at 0.12% to 0.17% The JPY has failed to strengthen despite the bullish movements in JGB yields and OIS rates. Broad-based US dollar strength and the deceleration in the lagging core-core CPI […]
10/07/2024

Fed Chair Explicitly Said He Didn’t Intend to Give Any Rate Timing Signals

Markets Fed Chair Powell before Congress yesterday reiterated that the US economy is coming into better balance. It made considerable progress toward the Fed’s 2% target. The labour market has cooled but remains strong. Even so, data still have to provide the MPC greater confidence that inflation is sustainably moving to target. Recent readings showed […]
02/08/2024

USD/JPY Outlook: Falls Further on Weaker than Expected NFP Numbers

USDJPY fell sharply (down 1% in immediate reaction to US jobs data) after US NFP dipped well below expectations in July (114K vs 176K f/c), while June’s figure was revised down to 179K from initial 206K. Unemployment unexpectedly rose to 4.3% in July from 4.1% June / consensus, while average earnings rose by 0.2% last […]