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Markets The path of least resistance on yields markets on Friday still was south. Investors after Wednesday’s Fed meeting/press conference clearly saw the glass half empty, rather than half full. The dots suggested otherwise with both growth and inflation forecasts upwardly revised. However, markets drew ‘dovish comfort’ from the fact that the median dot for […]

The post Chinese and Japanese Officials Started Offensive to Prevent Further Currency Losses appeared first on Action Forex.

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22/02/2024

Technical Outlook and Review

DXY: The DXY (US Dollar Index) chart currently exhibits bullish momentum, suggesting a potential bullish bounce off the 1st support level followed by a movement towards the 1st resistance. The 1st support level at 103.79 is identified as an overlap support, indicating a historical level where buying interest has previously emerged to support the price. […]
08/05/2024

GBP/USD: Action Slows Ahead of BoE Policy Decision on Thursday

Cable is holding within a narrow range on Tuesday as traders await fresh signals from the key economic event for sterling this week- BoE monetary policy meeting on Thursday. Data released today (Apr UK construction PMI well above expectations and house prices inched higher) contributed to positive near-term bias, while the price stays above 200DMA […]
23/08/2024

Being Data-Dependent in an Uncertain World

The RBA Board is uncertain, including about the staff’s judgements about demand and supply. But is being data-dependent any better? Much has been made of the number of times the word ‘uncertainty’ or its variants appeared in the minutes of the RBA Board meeting in August. Perhaps more noteworthy was the increase in the number […]