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Last week was brilliant for the major US indices but gloomy elsewhere. The S&P500 was slightly down on Friday, but the index posted its best weekly advance in a month on the back of a surprise easing in CPI figures and a not-too-hawkish Federal Reserve (Fed) statement. Nasdaq, on the other hand, closed last week […]

The post Not So Cheery appeared first on Action Forex.

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05/07/2024

Week Ahead – Round Two of French Elections, Powell Testimony and US CPI

French parties race to block Le Pen’s RN Powell testifies before Senate Banking Committee US CPI data to shake Fed rate cut bets RBNZ to leave OCR untouched, focus on language Euro traders keep gaze locked on French election Traders will be sitting on the edge of their seats on Sunday, in anticipation of Monday’s […]
24/06/2024

Sunset Market Commentary

Markets It was a slow but constructive start of the week. The economic calendar had little to offer with the exception of the German Ifo indicator. Confidence fell in June from May with the headline series easing from 89.3 to 88.6. Both the current assessment (88.3) and the expectations (89.0) component fell short of expectations. […]
26/04/2024

False Alert with Yen Interventions?

Even though the Bank of Japan left the key rate and parameters of the QE programme unchanged, the central bank’s inaction increased the pressure on the national currency. This resulted in USDJPY reaching 156.80 and EURJPY reaching 2007–2008 levels, which started a sharp decline due to the global financial crisis and related deleveraging. USDJPY has […]