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Markets German Bunds opened softer yesterday in a catch-up move with the US Treasury sell-off on (Easter) Monday. Selling pressure remained until the start of US trading despite lower-than-expected German CPI data and a slight fall in short-term (1-yr) inflation expectations in an ECB Survey. Both cement the case for a (discounted) June ECB rate […]

The post Stars Aligned for Dollar Yesterday, But Greenback Succumbed appeared first on Action Forex.

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19/12/2023

New Threat to Inflation

The week started with mixed feelings. Investors broadly ignored the Federal Reserve (Fed) members’ latest warnings that the interest rate cuts won’t come as soon and as fast as priced in by the financial markets. Equity bulls look determined to keep the Xmas magic alive. Big banks like Goldman Sachs also add fuel on fire, […]
30/11/2023

GBP/USD: Bulls Loosen Grip Ahead of Key US Data

Cable eases from new three-month high in European trading on Thursday, as daily Doji candle on Wednesday signaled indecision and overbought daily studies prompted a partial profit-taking. Failure to register a daily close above 1.2719 Fibo barrier (61.8% of 1.3141/1.2037) and subsequent weakness add to initial signals of bull trap and increases risk of pullback. […]
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 […]