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The dollar index is trading within a narrow range for the second consecutive day, as traders await release of the US inflation report for March, which is expected to provide more hints on the Fed’s policy outlook. Widely expected start of cutting rates in June, as well as the pace and size of rate cuts, […]

The post Dollar Index in Quiet Mode Ahead of Release of Key Economic Data from US appeared first on Action Forex.

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26/03/2024

Australian Dollar Edges Higher, CPI Next

The Australian dollar has extended its gains on Tuesday. In the European session, AUD/USD is trading at 0.6557, up 0.26%. On today’s data calendar, the US will release two tier-1 events. Durable goods orders are expected to rebound with a 1.1% gain in February, after a 6.1% slide in January. The Consumer Board consumer confidence […]
29/04/2024

USD/JPY: Pulls Back from New Multi-Decade Top on Suspected Intervention

USDJPY cracked psychological 160 barrier and hit new multi-decade high early Monday, with subsequent sharp pullback to 155.00 zone on suspected intervention. Fresh weakness cracked pivotal 155 support area (Friday’s low / 10DMA / Fibo 38.2% of 146.448/160.19) but so far without sustained break lower, with close above this levels to mark a healthy correction […]
09/04/2024

NZ Dollar Climbs Ahead of RBNZ Rate Decision

The New Zealand dollar has posted considerable gains on Tuesday. In the North American session, NZD/USD is trading at 0.6065, up 0.54% and its highest level since March 21. RBNZ widely expected to hold cash rate The Reserve Bank of New Zealand meets early on Wednesday and it’s practically a given that it will hold […]