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Yen rebounds broadly in today’s Asian trading session, buoyed by optimistic revisions in Japan’s economic growth forecasts. The government, in its semi-annual economic report, upgraded its growth projections for both the current and next fiscal years. Forecast for fiscal 2023 was raised from 1.3% to 1.6%, while projection for fiscal 2024 saw an increase from […]

The post Yen Rebounds on Upgraded Growth Forecasts, Global Risk-On Sentiment Eases appeared first on Action Forex.

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Euro Sell-Off Intensifies Following CPI Miss, Spurring Broad-Based Dollar Rebound
30/11/2023

Euro Sell-Off Intensifies Following CPI Miss, Spurring Broad-Based Dollar Rebound

Dollar is staging a broad-based rebound today, driven in part by the selloff in Euro. However, a more significant factor behind Dollar’s recovery appears to be the exhaustion of selling momentum as the month draws to a close. This rebound continues after both headline and core PCE inflation data in US matched expectations, indicating that […]
Dollar’s Rebound Pauses, Awaiting Direction from ISM Manufacturing and FOMC Minutes
03/01/2024

Dollar’s Rebound Pauses, Awaiting Direction from ISM Manufacturing and FOMC Minutes

Dollar softens mildly in quiet Asian session today. The greenback’s rebound stalled ahead of near term resistance levels, as general market sentiment stabilized in US session overnight. Investors and analysts are now turning their attention ISM Manufacturing PMI and FOMC minutes, seeking guidance on the future on the next move of the greenback. In the […]
Eurozone Inflation Surprises Support Euro, ECB’s Holzmann Urges Patience on Policy
01/03/2024

Eurozone Inflation Surprises Support Euro, ECB’s Holzmann Urges Patience on Policy

Euro rises broadly today even though gains are so far limited. The common currency is lifted by stronger than anticipated Eurozone inflation figures, which suggests that the path to disinflation may be encountering obstacles. This development could providing ammunition to hawks within the ECB Governing Council, to advocate for a cautious approach towards rate cuts. […]