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Markets Disappointing April US PMI’s triggered some short covering in US Treasuries. The composite PMI declined from 52.1 to 50.9 (vs 52 consensus) with both manufacturing (49.9 from 51.9) and services (50.9 from 51.7) contributing. Details showed inflows for new business falling for the first time in six months and firms’ future output expectation slipping […]

The post Stubbornly High Inflation Doesn’t Allow RBA to Cut Interest Rates Anytime Soon appeared first on Action Forex.

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16/08/2024

New Zealand Dollar Stems Slide

The New Zealand dollar has rebounded on Friday after a 1.4% slide over the past two days. NZD/USD is trading at 0.6017, up 0.70% in the European session at the time of writing. Solid US numbers raises risk appetite Exactly two weeks ago, a soft employment report out of the US panicked investors and caused […]
03/05/2024

Market Analysis: AUD/USD and NZD/USD Attempt Another Recovery

AUD/USD is eyeing a steady increase above the 0.6555 resistance. NZD/USD is also rising and could extend its increase above the 0.6000 resistance zone. Important Takeaways for AUD/USD and NZD/USD Analysis Today The Aussie Dollar is moving higher from the 0.6465 zone against the US Dollar. There is a connecting bullish trend line forming with […]
08/05/2024

Sunset Market Commentary

Markets In yet another dull trading day the weak SEK (cf. below) and JPY stand out. The yen is not impressed by Ueda ramping up warnings. It began in Asian dealings, where the BoJ governor said that a policy response (i.e. rate hike) could be needed depending on the currency’s moves. Ueda said a weak […]