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Financial and currency markets are experiencing one shock after another. The steady decline in US inflation, a potential Fed rate cut, and the current US president’s exit from the election race have led to sharp fluctuations in almost all currency pairs. Last week: The GBP/USD pair traded above the psychological level of 1.3000; USD/JPY sellers […]

The post EUR and GBP Retreat from Key Levels appeared first on Action Forex.

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26/04/2024

USD/JPY: Surges Above 156.00 as BoJ Holds Rates

USDJPY surged to new 34-year high on Friday after the Bank of Japan kept its ultra-low interest rates unchanged and lacked to provide clearer signals about the timing of next rate hike, which further deflated yen. Fresh bullish acceleration on Friday surged through 156.00 barrier, hitting the highest since 1990 (156.82 so far), after surpassing […]
05/02/2024

Powell Interview Adds to Strong Jobs Data Driving Yields Higher

In focus today From the US, the ISM Services index is due for release for January. The December data pointed towards weakening growth momentum, but the latest signals from flash PMIs have been more optimistic. In the euro area, we receive the February Sentix investor confidence indicator as well as December PPI data. In Sweden, […]
14/08/2024

Sunset Market Commentary

Markets July US CPI inflation figures printed very close to consensus. Monthly inflation accelerated both on a headline and on a core level to 0.2% M/M. Details showed food prices rising by 0.2% M/M, energy prices flat, and services (ex. energy) rising by 0.3% M/M. The main disinflationary impact came again from used cars and […]