Logo-color Logo-white

Dollar initially gained momentum in European session and breaks through near term resistance against Euro. However, the greenback then saw a swift reversal as the market transitioned into US session. Despite a stronger final reading for US Q4 GDP, the impact on the greenback was muted, attributed largely to the data’s perceived obsolescence given the […]

The post Dollar’s Momentary Rise Fades Amid Market Caution appeared first on Action Forex.

previous

Nikkei Takes Hit from Japan’s Vigorous Yen Verbal Intervention, But Yen’s Gain Lacks Strength

next

Dollar Edges Lower as PCE Inflation Data Aligns with Expectations, Gold Hits Record

Read More

Dollar at Risk of Resuming Medium-Term Downtrend as Fed Confirms Rate Cuts Ahead
24/08/2024

Dollar at Risk of Resuming Medium-Term Downtrend as Fed Confirms Rate Cuts Ahead

Fed Chair Jerome Powell’s highly anticipated speech at Jackson Hole didn’t disappoint market participants, as he clearly signaled that the time for easing monetary policy has arrived. This declaration provided a notable boost to US stock markets on Friday, with major indexes ending the week on a positive note. Meanwhile, Dollar tumbled across the board, […]
Commodity Currencies Weaken; Focus on AUD/JPY Ahead of Australia and Japan Data
08/01/2024

Commodity Currencies Weaken; Focus on AUD/JPY Ahead of Australia and Japan Data

In today’s relatively subdued markets, the notable development is weakness in commodity currencies, led by Australian Dollar. This decline comes amid a drop in oil prices following Saudi Arabia’s decision to cut official selling prices across all regions. Additionally, precious metals have softened in response to rebound in global benchmark treasury yields. The downward trend […]
Treasury Yields Spike and Safe-Haven Currencies Ascend
30/05/2024

Treasury Yields Spike and Safe-Haven Currencies Ascend

The US financial markets were enveloped in a wave of risk aversion that continued into Asian session, primarily driven by the notable surge in Treasury yields. This uptick in yields followed an auction of seven-year debt that closed with higher than anticipated yields, raising alarms about weakening demand for US Treasuries. This concern was compounded […]