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The competition between Dollar and Euro for the title of the week’s weakest performer remains intense. Current talking point is particularly on ECB, where economists are increasingly predicting an early rate cut following this week’s pivotal inflation data. Goldman Sachs, aligning with this growing consensus, has updated its forecast today, now anticipating ECB to initiate […]

The post Dollar and Euro Neck-and-Neck for Weakest Performer, Awaiting ISM Manufacturing Insights appeared first on Action Forex.

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Inflation Data from Eurozone and US Takes Center Stage
31/05/2024

Inflation Data from Eurozone and US Takes Center Stage

Dollar continues its struggle to find direction, and stay in familiar range against most major currencies except against Swiss Franc. Markets shift their focus to the upcoming release of April US PCE data for guidance. Currently Fed fund futures are indicating a 50/50 chance of a rate cut by September. Recent comments from Fed officials […]
Aussie Weighed Down by Retail Sales and China, Gold Ready for Another Down Leg
30/04/2024

Aussie Weighed Down by Retail Sales and China, Gold Ready for Another Down Leg

Australian Dollar weakened across the board in Asian session, dragged down by unexpectedly poor retail sales data for March. The contraction in sales is a reminder to RBA about the ongoing impact of cost of living pressures exacerbated by higher interest rates and inflation. This challenging economic backdrop is likely to make RBA more cautious […]
Yen Dips as Nikkei Charges Toward Record High
16/02/2024

Yen Dips as Nikkei Charges Toward Record High

Yen weakens mildly in Asian session today, contrasting with Nikkei’s continued up trend towards historical high made in 1990. This development comes amidst diminishing impacts of Japanese officials’ verbal interventions aimed at stemming Yen’s decline. Without tangible policy measures to back these statements, the currency’s depreciation has persisted. Meanwhile, Finance Minister Shunichi Suzuki’s tone has […]