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The dollar index remains constructive at the start of the week, following Friday’s jump on robust US November labor data. The greenback benefited from higher than expected US NFP and unemployment below consensus in November, which signaled that labor market remains resilient and softening narrative about rate cuts. However, recovery faces headwinds from pivotal barrier […]

The post Dollar Index: Dollar Keeps Firm Tone and Attempts Again Through Pivotal Barriers at 104.10 Zone appeared first on Action Forex.

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Japanese Yen Correction Continues

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24/07/2024

Yen Extends Its Comeback Supported by strong Japan Jibun Services PMI

Markets In a session with few important data core bonds remained well bid, Bunds outperforming Treasuries. German yields declined between -11.6 bps (2-y, benchmark change) and -4.5 bps (30-y) in a bull steepening move. Investors apparently stay confident that the ECB will able to continue its easing cycle as of September even as June EMU […]
15/05/2024

Sunset Market Commentary

Markets Counting down to the key US CPI release, markets clearly positioned for an outcome that kept the door open for a Fed rate cut post summer holidays. US yields already declined about 2.0-3.5 bps in the run-up to the data release. US inflation indeed printed on the softer side of expectations. Headline inflation eased […]
03/04/2024

GBPUSD Wave Analysis

Sterling reversed from pivotal support level 1.2550 Likely to rise to resistance level 1.2700 Sterling recently reversed up from the pivotal support level 1.2550, which has been reversing the pair from the start of December, as can be seen below. The support level 1.2550 was strengthened by the lower daily Bollinger Band and by the […]