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Dollar is having a broad upswing today as investors and traders brace for the latest US non-farm payroll data. With the recent pullback in stock markets and noticeable recovery in treasury yields, the prevailing sentiment indicates that traders are increasingly skeptical about the likelihood of an early Fed rate cut. Consequently, any upside surprises in […]

The post Dollar Rallies Ahead of NFP, Eurozone CPI Looms appeared first on Action Forex.

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Yen Selloff Intensifies, Attention Shifts to UK CPI and FOMC
20/03/2024

Yen Selloff Intensifies, Attention Shifts to UK CPI and FOMC

Japanese Yen’s decline intensified today and it’s on the verge of breaking to new historical low against the greenback. Japan’s stock markets are on holiday today, but the strong rally in Nikkei yesterday, which surged 40k psychological mark again, was significant. The robust risk-on sentiment within Japan and its weakening currency are clearly reinforcing each […]
Euro Edges Down Following Left-Wing Triumph in French Elections
08/07/2024

Euro Edges Down Following Left-Wing Triumph in French Elections

Euro dips mildly a in Asian session after French parliamentary elections on Sunday delivered unexpected results. The markets had anticipated a challenging outcome for centrist President Emmanuel Macron, including a hung parliament. Yet, the outcome was particularly surprising for Marine Le Pen’s National Rally. Despite being a frontrunner, her party only secured the third spot. […]
Dollar Drops as CPI Revives Hopes for Fed Rate Cut in Sep
15/05/2024

Dollar Drops as CPI Revives Hopes for Fed Rate Cut in Sep

Dollar falls broadly in early US session following the release of CPI data that shows disinflation resumed in April. This has reignited hopes that Fed is on track to start cutting interest rates by September, with Fed fund futures now indicating more than 70% probability of such a move. The renewed optimism has also boosted […]