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Cable remains in red in early Friday, following Thursday’s 0.9% drop (the biggest daily loss since Apr 10) as fresh risk aversion deflated sterling. Bears extended to one-month low but find a footstep at 1.2706 (top of thick ascending daily cloud) and may pause here, as daily studies are becoming oversold and strong negative momentum […]

The post GBP/USD Outlook: Remains in Red But Bears Face Headwinds from Daily Cloud Top appeared first on Action Forex.

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24/01/2024

NZD/JPY: JPY Crosses Under Downside Pressure after BoJ’s Hawkish Guidance

Japanese Government Bond (JGB) yields on the upmove ex-post BoJ. Positive yield premium shrinkage (JGB over the rest of the world) may put further downside pressure on JPY crosses carry trades. Watch NZD/JPY where RBNZ may reduce its hawkish rhetoric reinforced by NZ Q4’s soft inflation data. Bank of Japan (BoJ) concluded its first monetary […]
07/01/2024

The Weekly Bottom Line: Rate Cut Expectations Ease Slightly at the Start of 2024

U.S. Highlights Minutes from the December FOMC meeting confirmed that monetary policy was “likely at or near its peak” for this tightening cycle, but showed no meaningful discussion on rate cuts. The U.S. economy added a better-than-expected 216k jobs in December, but downward revisions to the prior two months kept a cooling trend intact. The […]
22/04/2024

EUR/GBP: Rallies for the second day as dovish comments from BoE officials deflate Pound

EURGBP extends strong rally into second straight day and hit the highest in 4 ½ months on Monday, as the pound was hit by dovish comments from BoE officials, who shifted their initial view and expect inflation to ease further and remain around the central bank’s 2% target for next couple of years. The pair […]