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The dollar index ticked lower in European trading on Thursday, after bounce from 8-month low (101.94, posted on Monday) started to lose traction. Weak picture on daily chart (MA’s in bearish configuration / strong negative momentum) warn of limited recovery before bears regain control. The dollar was hit by the recent strong rally of yen, […]

The post Dollar Index: Limited Recovery Likely to Precede Fresh Weakness as Rate Outlook Weighs appeared first on Action Forex.

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21/02/2024

Sunset Market Commentary

Markets This morning, the PBOC surprised markets with a much bigger than expected 25 bps cut of the 5-year prime loan rate (3.95%) aiming to support the real estate market and hopefully also helping to provide some oxygen (and confidence) for broader economic activity. However, the market reaction in China and abroad was lukewarm. For […]
23/05/2024

Gold Falls from Highs

The price of gold fell to $2370.00 per troy ounce by Thursday following the release of the minutes from the latest US Federal Reserve meeting. The general tone of the Fed’s policymakers was notably cautious, aligning with previous calls for a restrained approach to monetary policy. The Fed indicated that more time is needed to […]
15/08/2024

Reserve Bank of New Zealand Pivots to Rate Cuts

Summary The Reserve Bank of New Zealand (RBNZ) kicked off its rate cut cycle at this week’s meeting, lowering its policy interest rate by 25 bps to 5.25%. The decision was a mild surprise, with an overall majority of analysts (including ourselves) expecting the central bank would remain on hold. Several factors contributed to the […]