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Euro fell notably today, along with decline in Eurozone government bond yields, following weaker-than-expected PMI data. Political instability in France is negatively impacting business activity, while Germany’s economic recovery has lost momentum. At the same time, surge in Germany’s services inflation pressures suggests that ECB is unlikely to implement back-to-back rate cuts in July. The […]

The post Euro and Sterling Fall on Weak PMI Data appeared first on Action Forex.

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26/01/2024

Subdued Trading Continues, Euro Falters as Markets Await US PCE Inflation

The subdued trading in the forex markets observed through the week continued in today’s Asian session. Despite numerous central bank decisions and key economic data releases, most major currency pairs and crosses are staying within last week’s range. Euro, as the worst performer. so far is a notable exception. This lackluster performance seems tied to […]
Dollar Gains Momentum as Fed Hike Re-Enters Markets Pricing, Despite Ultra Low Odds
24/05/2024

Dollar Gains Momentum as Fed Hike Re-Enters Markets Pricing, Despite Ultra Low Odds

Dollar’s rebound is gathering momentum, as fueled by yesterday’s data indicating a resurgence in the services sector, which could impede disinflation progress. While fed fund futures still reflect over 50% probability of a rate cut in September, there is now a 0.6% chance of a rate hike—an occurrence not seen for quite some time. Currently, […]
Sterling Weathers Dovish BoE Impact; Dollar Slips on Poor Jobless Claims
09/05/2024

Sterling Weathers Dovish BoE Impact; Dollar Slips on Poor Jobless Claims

British pound experienced some volatility following BoE’s rate decision, which revealed a dovish tilt in both the voting pattern and the language used. Sterling dipped initially, but then made a swift recovery, surviving as Governor Andrew Bailey dovish remarks in his follow-up press conference. Bailey stressed it’s not time to cut interest yet. But for […]