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The AUD/USD pair climbed to 0.6922 on Monday, marking its highest point since February 2023. This surge was primarily triggered by China’s announcement of economic stimulus measures, which is significant given China’s status as Australia’s largest trading partner. Such support for the Chinese economy will likely increase demand for commodities and bolster major currencies tied […]

The post Australian Dollar Reaches 19-Month High Boosted by Chinese Economic Stimulus and Weaker US Dollar appeared first on Action Forex.

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27/06/2024

Yen Under Pressure as USD/JPY Hits New Highs Since 1986

The USD/JPY pair soared to 160.34 on Thursday, reaching levels not seen since 1986, as market participants increasingly anticipate potential interventions from Japanese authorities. Despite repeated verbal assurances, the Japanese government has not taken concrete financial measures, leaving the yen vulnerable. Finance Minister Shunichi Suzuki reiterated that the government stands ready to counteract sudden and […]
26/01/2024

Crypto Market Takes a Breath after the Storm

Market Picture The crypto market saw lower volatility in the last 24 hours, with capitalisation at $1.56 trillion and the price of Bitcoin hovering around $40K. Major altcoins have also avoided strong moves. The Fear and Greed Index is wandering around a neutral 50. A cautious uptrend can be discerned in Bitcoin since Tuesday, as […]
15/12/2023

Norges Bank Defies the Tide

In focus today Today we get PMIs out of the big Western economies. In the euro area, we expect continued modest contraction in the service sector while the downward trend in manufacturing becomes gradually less steep. We will also keep an eye on the price indices, which moved higher in November. Particularly the IFO survey […]