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The past week marked a significant downturn for Dollar, which found itself at the bottom of the currency performance chart. A slew of unfavorable economic reports has highlighted the tangible effects of sustained high interest rates on the American economy, fostering a growing consensus that Fed may begin to ease these rates as soon as […]

The post Pound Outshines as Dollar Sinks, Yen Stabilizing appeared first on Action Forex.

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Post-Holiday Forex Awakening: Dollar Strengthens on Surprising ISM Manufacturing Expansion
01/04/2024

Post-Holiday Forex Awakening: Dollar Strengthens on Surprising ISM Manufacturing Expansion

The forex markets roared back to life from holiday lull in early US session, Dollar surges broadly as buoyed by unexpectedly strong ISM manufacturing data. This report marks a pivotal shift for the sector, which has transitioned back into expansion after 16 months of contraction. Additionally, the prices component of the report soared to its […]
Yen and Aussie Soften in the Wake of Yuan’s Decline
11/12/2023

Yen and Aussie Soften in the Wake of Yuan’s Decline

Chinese Yuan’s significant selloff in Asian session today had a ripple effect across several major currencies, dragging down Japanese Yen, Australian Dollar, and New Zealand Dollar. This movement was largely spurred by concerning data from China indicating deepening deflation, which also negatively impacted Hong Kong’s stock market. Yuan’s future trajectory now hinges critically on a […]
Dollar Finds Footing on Strong PPI Data
16/02/2024

Dollar Finds Footing on Strong PPI Data

Dollar stages a notable recovery in the early US session, buoyed by stronger than expected January PPI figures. The highlight was PPI excluding foods, energy, and trade services, which saw its largest monthly increase in a year, hinting at persistent underlying inflationary pressures upstream. Despite the current rebound rebound, Dollar has yet to surpass the […]