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Gold continues its decline with $2300/oz firmly back in sight. US Dollar index and US 10Y yield continue to rise, US 10Y now at 4.275%. PCE inflation data could be the catalyst needed for gold prices to find some direction. Fundamental Overview Gold prices remain under pressure this morning as rising US yields and a […]

The post Gold Prices Under Pressure as Dollar Index (DXY), US Yields Rise appeared first on Action Forex.

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21/03/2024

Japanese Yen (USD/JPY) Hits Four-Month Low

The USD/JPY pair surged to a four-month high as investors recalibrated their expectations for the Bank of Japan’s future actions. The consensus is now that the BoJ’s monetary policy will remain accommodative, even with the shift away from negative interest rates. On Tuesday, the Bank of Japan announced its first interest rate hike in 17 […]
17/09/2024

Bank of England Preview – Proceeding With Caution

We expect the Bank of England (BoE) to keep the Bank Rate unchanged at 5.00% on 19 September in line with consensus and market pricing. Overall, we expect the BoE to stick to a cautious language and deliver a dovish twist to its communication. We expect the reaction in EUR/GBP to be rather muted with […]
21/02/2024

Sunset Market Commentary

Markets This morning, the PBOC surprised markets with a much bigger than expected 25 bps cut of the 5-year prime loan rate (3.95%) aiming to support the real estate market and hopefully also helping to provide some oxygen (and confidence) for broader economic activity. However, the market reaction in China and abroad was lukewarm. For […]