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Dollar took a nosedive overnight as investors were apparently relieved that Fed is still on track to cut interest rates three times this year. The odds for a June cut as indicated by fed fund futures also jumped back to above 70%. The positive sentiment shoot major US stocks indexes to new record highs. The […]

The post Dollar Wanes as Fed Sticks to Three Cuts Projection; Aussie Jumps; BoE and SNB Next appeared first on Action Forex.

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Dollar Still in Recovery With Indecisive Momentum; Eyes on USD/CHF Resistance
17/05/2024

Dollar Still in Recovery With Indecisive Momentum; Eyes on USD/CHF Resistance

Dollar is gradually recovering from the selloff triggered by US CPI data release earlier in the week. However, the recovery momentum remains indecisive. US stock markets, after a record run, are taking a breather, but bullish sentiment still appears dominant. The stock rally might resume if DOW convincingly breaks the 40k mark, which could again […]
Risk Sentiment Revives on Strong US GDP, Euro Holds Its Ground Against Dollar Post-ECB
25/01/2024

Risk Sentiment Revives on Strong US GDP, Euro Holds Its Ground Against Dollar Post-ECB

Commodity currencies bounce in early US session, spurred by unexpectedly robust US GDP data that has invigorated stock futures. This surge in risk appetite is exerting some pressure on Dollar, although the impact remains relatively contained for the moment. The sustainability of this risk-on sentiment is still in question, which will be critical for the […]
Dollar Under Pressure as Markets Await Crucial US CPI , Aussie and Kiwi Lead Gains
15/05/2024

Dollar Under Pressure as Markets Await Crucial US CPI , Aussie and Kiwi Lead Gains

Dollar remains broadly under pressure during Asian session as markets await the highly anticipated US CPI data. Expectations of Fed rate cuts have been building again since non-farm payroll data indicated a loosening job market. However, for the Fed to consider monetary easing, it is crucial that inflation shows signs of following suit with clear […]