Logo-color Logo-white

Dollar continued its broad-based weakness in Asian session, with selling pressure shifting towards European majors. EUR/USD is approaching its August high as the near-term rebound gathers momentum. This decline in the Dollar is partly attributed to weaker-than-expected US consumer confidence data released overnight, which has intensified market expectations of consecutive 50bps rate cuts by Fed […]

The post Dollar Slumps as Euro Eyes August High, Hong Kong Markets Approach Crucial Resistance appeared first on Action Forex.

previous

Aussie Stays Firm With Copper’s Rally Giving Extra Support

next

Euro Gains Momentum Despite ECB Rate Cut Speculations

Read More

Currency Markets Steady as US Election Looms, Kiwi Eyes Key Employment Data
05/11/2024

Currency Markets Steady as US Election Looms, Kiwi Eyes Key Employment Data

Global currency markets are treading water today, as all eyes turn to the US presidential election, where Kamala Harris and Donald Trump are in a dead heat. Adding to the suspense, the Congressional elections will determine the president’s ability to push policy forward effectively, making the stakes especially high. Given the close race and critical […]
Dollar Weakens as Treasury Yields Slip, Market Awaits US CPI for Clarity on Fed’s Next Move
11/09/2024

Dollar Weakens as Treasury Yields Slip, Market Awaits US CPI for Clarity on Fed’s Next Move

Dollar softened across the board in today’s Asian session, dragged down by extended in US Treasury yields. Investors appear to be setting aside the first presidential debate between Kamala Harris and Donald Trump, focusing instead on the highly anticipated US CPI report, which might hopefully provide clearer direction on Fed’s upcoming interest rate cut. Market […]
Sentiment Stabilizes after FOMC, Yen Jumps Again on Alleged Strategic Intervention
02/05/2024

Sentiment Stabilizes after FOMC, Yen Jumps Again on Alleged Strategic Intervention

Markets sentiment in the US stabilized overnight, responding positively to Fed Chair Jerome Powell’s less hawkish-than-anticipated remarks in the post-FOMC press conference. DOW closed slightly up, while S&P 500 and NASDAQ saw mild losses only. Treasury yields and Dollar both fell in response to these developments. Key takeaways from Powell’s address include a clear stance […]