Logo-color Logo-white

Dollar strengthens broadly in Asian session today, extending last week’s late rebound. This uptick comes in the wake of Fed Chair Jerome Powell’s interview on 60 Minutes, where he reiterated the premature nature of interest rate cuts in March. He also highlighted the underlying economic resilience that affords Fed the luxury of patience. Powell’s stance […]

The post Continued Ascendancy of Dollar Awaits Validation from ISM Services Data appeared first on Action Forex.

previous

Investor Optimism Pushes Stocks to New Heights, While Dollar Rallies as March Fed Cut Speculation Subsides

next

Dollar’s Dominance Continues, Sterling and Euro Accelerate Down

Read More

Kiwi Rallies on Strong Confidence Data, Nvidia’s Underwhelming Forecast Weighs on NASDAQ
29/08/2024

Kiwi Rallies on Strong Confidence Data, Nvidia’s Underwhelming Forecast Weighs on NASDAQ

New Zealand Dollar made significant gains in Asian session today, boosted by unexpectedly strong business confidence data from New Zealand. In retrospect, RBNZ’s unexpected rate cut just two weeks ago now appears to be a timely and strategic move, welcomed by Kiwi traders. By initiating the policy easing cycle earlier than anticipated, RBNZ may have […]
End-of-Year Forex Market Lull; Bitcoin’s Prospects for Resurgence in 2024 Under Watch
29/12/2023

End-of-Year Forex Market Lull; Bitcoin’s Prospects for Resurgence in 2024 Under Watch

Trading activity is rather subdued in the last Asian session of the year. With no major economic events on the calendar for the day, trading is expected to remain quiet. Dollar is making an attempt to recover but continues to be the weakest performer for the week. It is followed by Euro and Sterling in […]
Aussie Leads Decline in Commodity Currencies; Risk Aversion Dominates Following China’s Rate Cut
22/07/2024

Aussie Leads Decline in Commodity Currencies; Risk Aversion Dominates Following China’s Rate Cut

Australian Dollar leads other commodity currencies lower in Asian session today, reflecting a broader risk-off sentiment in the markets. The market’s risk-off sentiment is further emphasized by the strength of Yen and Swiss Franc, currencies typically favored during periods of uncertainty. Nikkei has slipped below the 40k mark, while China’s Shanghai SSE is down over […]