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The US dollar is the top performer against the JPY on a 5-day rolling basis (+3%). A monthly US NFP jobs gain of between +240K to +260K may ignite another bout of US dollar rally. Bullish momentum is supporting a potential extension of the ongoing countertrend rebound in USD/JPY. Watch the next intermediate resistance at […]

The post USD/JPY Technical: Countertrend USD Rebound Remains Intact Ahead of US NFP appeared first on Action Forex.

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08/07/2024

French Election No Majority, No Spending Surge, But Continued Uncertainty

No party secured an absolute majority in the French National Assembly, leaving it highly fractured after the election. The left-wing New Popular Front (NPF) became the largest party, securing 182 seats. Macron’s centrist “Ensemble” alliance finished second with 168 seats. The far-right National Rally (RN) has unexpectedly taken third place, garnering 143 seats. A party […]
19/09/2024

Bank of England Review – Gradual Easing Cycle Supports GBP

At today’s monetary policy meeting the BoE left the Bank Rate unchanged at 5.00% as widely expected. The BoE delivered a hawkish twist to its guidance emphasising their gradual approach to reducing the restrictiveness of monetary policy. We think this supports our base case of the next cut in November and a pause in December. […]
10/09/2024

Harris and Trump in Their First Face-Pff

In focus today In the US, we get the NFIB Small Business Survey. Also, Fed Governor Barr is expected to announce a reduction in the biggest banks’ capital hike in the latest Basel plan, from 19% to 9%, according to Bloomberg. Later, Kamala Harris and Donald Trump will have their first live debate at 9 […]