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The financial markets gained much-needed clarity last week as strong US employment data aligned market expectations with Fed’s own monetary policy outlook. The possibility of a 50bps rate cut in November has now vanished, with traders anticipating two more standard 25bps cuts this year, matching Fed’s dot plot. This development boosted Dollar, which ended the […]

The post Dollar Rises on Fed Clarity, Oil Jumps on Rising Fears of Wider Middle East War appeared first on Action Forex.

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Forex Markets Lack Clear Theme; Yen Rebounds Briefly, EUR/GBP Resumes Downtrend
23/01/2024

Forex Markets Lack Clear Theme; Yen Rebounds Briefly, EUR/GBP Resumes Downtrend

Identifying a singular driving theme proves challenging In today’s forex market. Japanese Yen made an attempt to rebound following BoJ Governor Kazuo Ueda’s post-meeting press conference, where he hinted at the potential of a future rate hike. However, this rebound was short-lived, and Yen soon reverted to its familiar tight trading range, indicating that the […]
Euro Holds Steady After ECB Rate Cut
06/06/2024

Euro Holds Steady After ECB Rate Cut

Following ECB’s decision to lower interest rates by 25 bps, a move that aligned with market expectations, Euro remained relatively steady within its near term trading range. ECB President Christine Lagarde, speaking at the post-meeting press conference, deliberately avoided providing explicit forward guidance, stating that ECB is not pre-committing to any particular rate path. Lagarde […]
Aussie Rises on Strong Job Growth, But Gains Limited
15/08/2024

Aussie Rises on Strong Job Growth, But Gains Limited

Australian Dollar strengthened during Asian session today, buoyed by stronger-than-expected employment growth data. This positive surprise offered some support to Aussie, though gains were limited, failing to push the currency above yesterday’s high. The labor market report, which showed a modest increase in unemployment rate, suggests some loosening in employment conditions. While this development might […]