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Key Highlights USD/JPY started another increase and cleared the 152.50 resistance. A key bullish trend line is forming with support at 152.70 on the 4-hour chart. EUR/USD and GBP/USD gained bearish momentum. Gold prices surged further above the $2,380 level. USD/JPY Technical Analysis The US Dollar remained well-bid above the 150.00 level against the Japanese […]

The post USD/JPY Supported For More Gains, Gold Approaches $2,400 appeared first on Action Forex.

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24/04/2024

Stubbornly High Inflation Doesn’t Allow RBA to Cut Interest Rates Anytime Soon

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 […]
28/11/2024

Weekly Economic & Financial Commentary: And So It Begins

Summary United States: Data Came in Like a Butterball Anyone who has ever gobbled until they wobbled can tell you it can be challenging to digest too much at one time. In the financial world, you know it’s Thanksgiving when you get a full slate of economic data stuffed into one day. Nobody is relegated […]
17/08/2024

The Weekly Bottom Line

U.S. Highlights The July report for the Consumer Price Index showed headline inflation fell below 3% for the first time since March 2021. U.S. retail sales surpassed expectations in July, rising 1.0% month-on-month. Federal Reserve Chair Jerome Powell’s remarks during next week’s Jackson Hole Symposium will headline the week. Canadian Highlights Bad news for Canada’s […]