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USDJPY storms to fresh 2024 high after BoJ’s rate hike The pair is within breathing distance from 33-year peak Momentum indicators point to overbought conditions USDJPY has been in a steady uptrend after finding its feet a tad above the 200-day simple moving average (SMA) in early March. Meanwhile, the pair posted a fresh 2024 high following a dovish […]

The post USDJPY Advances in BoJ Aftermath appeared first on Action Forex.

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16/05/2024

JPY Has Sharply Strengthened

The yen’s exchange rate rose to the US dollar on Thursday in response to improving prospects for the Federal Reserve interest rate. The USDJPY pair has declined to 153.88. After the US released up-to-date data on April inflation, the likelihood of a reduction in the cost of borrowing in the country increased markedly. Both the […]
25/05/2024

Weekly Focus – Euro Economy on Track for Mild Recovery

Economic news was to the solid side this week with not least euro area PMIs painting a stronger picture. The main surprise came from manufacturing PMI which increased from 45.7 to 47.4 (consensus 46.1) while the service sector stayed at a decent level of 53.3. The service report highlighted the strength of the labour market […]
10/07/2024

Gold Prices Rise Amid Anticipation of Fed Rate Cut

Gold prices continue to experience an upward trend, reaching 2368 USD per troy ounce, fuelled by growing market anticipation of a potential rate cut by the US Federal Reserve. As investors focus on upcoming US inflation data, gold remains a focal point of investment interest. In his recent testimony before Congress, Federal Reserve chair Jerome […]