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AUDUSD remains near its lowest levels since August touched on Wednesday and looks vulnerable to further declines. However, traders are holding back from making big moves and are waiting for the US Nonfarm Payrolls (NFP) report, which will provide clues on the Federal Reserve’s (Fed) next steps regarding interest rate cuts. This key jobs data […]

The post AUDUSD Looks Bullish Ahead of NFP appeared first on Action Forex.

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11/01/2024

Sunset Market Commentary

Markets Trading initially was a long-drawn countdown to today’s US December CPI. Investors tentatively positioned for a rather soft report, with US yields easing 3-4 bps before publication of the data. The report brought a modest upside ‘surprise’. Headline inflation increased 0.3% M/M and 3.4% Y/Y from 3.1% in November (3.2% expected). Core inflation excluding […]
19/06/2024

NZD: Market Breakdown Ahead of GDP Release

The NZDUSD pair rose nearly a quarter of a percent to the 0.6110s after the US Dollar weakened following disappointing US Retail Sales data for April and May. The lower-than-expected retail sales growth in May and downward revisions for April indicate a slowdown in US consumer spending, leading to revised market expectations of future US […]
22/05/2024

UK Inflation Distanced the Expected Rate Cut

Inflation in the UK exceeded forecasts, making traders and investors cautious about the prospects for policy easing in the coming months. Consumer prices rose by 0.3% m/m vs. 0.2% expected. Annual inflation slowed to 2.3% last month from 3.2% in March. This is the lowest level in two years, comfortably close to the Bank of […]