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In focus today In the US, the University of Michigan’s preliminary consumer sentiment survey for September is due. With underlying inflation moderating and short-term market-based inflation expectations declining with global oil prices it will be interesting to see if the reading reflects these trends. In August, 1y and 5y inflation expectations stood at 2.8% and […]

The post Industrial Production and Inflation Expectations in the Spotlight appeared first on Action Forex.

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USD/JPY Outlook: Bears Hold Grip and Crack Pivotal Support Zone

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20/12/2023

Technical Outlook and Review

DXY: The DXY (US Dollar Index) chart currently shows an overall bearish momentum, indicating a potential for price to make a bearish continuation towards the 1st support. The 1st support level at 101.87 is identified as a multi-swing-low support. Further below, the 2nd support level at 100.67 is noted as a swing-low, further reinforcing its […]
25/01/2024

Gold Not Out of the Woods Yet

Gold below key barriers ahead of next week’s FOMC policy announcement Technical signals cannot promise a meaningful rally Gold has been in a tight range within the 2,016-2,030 region so far this week, struggling to find enough buyers to close successfully above its exponential moving averages (EMAs) on the four-hour chart and the broken support trendline from […]
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 […]