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The dollar remains in strong bullish acceleration for the third consecutive day, boosted by expectations that Trump’s victory in the US presidential election would boost the economy and ease pressure on Fed, while fading expectations for aggressive rate cuts in coming months, added support the US currency. The dollar index, which tracks performance of US […]

The post US Dollar Index Outlook: Dollar Rises Further on Less Aggressive Fed Rate Cut Outlook appeared first on Action Forex.

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06/09/2024

JPY Crosses Face Another Round of Potential Downside Pressure as NFP Looms

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 […]
22/07/2024

Australian Dollar Falls to 3-Week Low

The Australian dollar is coming off a rough week with losses of 1.45% and the downtrend has continued on Monday. AUD/USD is trading at 0.6664 in the European session, down 0.30% on the day at the time of writing. The Aussie climbed 1.9% in the first two weeks of July but has reversed directions and […]
12/06/2024

EURUSD Recoups Losses and Bearish Gap after US CPI

EURUSD posts gains above 1.0800 RSI crosses above 50 level EURUSD is extending its rebound off 1.0740 after US inflation data that was lower than expected. The pair jumped above the 50- and the 200-day simple moving averages (SMAs) as well as the 1.0800 round number. Technically, the RSI indicator is currently crossing the 50 […]