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Recent lacklustre key US economic growth-related data; ISM Manufacturing PMI & ADP Employment Change reinforced the recent bout of JPY strength. Bearish elements in the JPY crosses Index suggest further potential JPY strength in the medium-term horizon. Watch the 140.25 support on the USD/JPY. A déjà vu experience is now ripping across the foreign exchange […]

The post JPY Crosses Face Another Round of Potential Downside Pressure as NFP Looms appeared first on Action Forex.

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11/06/2024

Sunset Market Commentary

Markets Euro weakness remains name of the game in the wake of French President Macron’s snap election call as his coalition got whacked in EU elections. ECB comments played a role as well. EUR/USD set a new sell-off low around 1.0730 from starting levels near 1.0775. Macron’s proposal to join forces on the center(-left/right) aisle […]
21/03/2024

March FOMC Meeting: Still Building Confidence

Summary As was widely expected, the FOMC left the fed funds target range unchanged at 5.25-5.50% at the conclusion of its March meeting. The Summary of Economic Projections showed that the vast majority of the Committee continues to believe some easing of policy will be appropriate this year. The median projection for the federal funds […]
08/05/2024

Sunset Market Commentary

Markets There’s nothing to break the deadlock for now. Last week’s correction higher in US Treasuries and lower in USD following the Fed-payrolls combo isn’t met by real follow-up action this week. A very light eco calendar supports the current standstill. Lower volatility and last week’s bond correction prove fertile breathing ground for stock markets. […]