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The US dollar has retreated to the lower levels it has visited multiple times since the end of January. The decline at the end of last week was driven by reports that US ‘retaliatory’ tariffs have been postponed until April, allowing time for negotiations and potential easing of terms. This development proved more significant for […]

The post Dollar Has Rolled Back to Local Lows appeared first on Action Forex.

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05/02/2024

S&P 500 Wave Analysis

S&P 500 broke key resistance level 4930.00 Likely to rise to resistance level 5000.00 S&P 500 index rising inside the minor impulse wave 3 which previously broke above the key resistance level 4930.00 (which stopped the previous minor impulse wave i at the end of last month). The breakout of the resistance level 4930.00 accelerated […]
11/12/2023

USD/JPY: Extends Advance on Fresh Dovish Comments from BoJ

Bounce from last Thursday’s multi-month low and a bear-trap, extends into second consecutive day and accelerates on Monday. The dollar benefited from stronger than expected US jobs data in November, which shifted the view about rate cuts in 2024, while BoJ softened the narrative about start of tightening its ultra-loose policy, by comments that there […]
06/02/2024

Sunset Market Commentary

Markets: The payrolls-Powell combo resonated through today’s European trading session in absence of other data/events. It put core bonds under further pressure from the start with US Treasuries underperforming German Bunds. Recall that Powell ruled out a March rate cut with the voiceover of the 60 Minutes interview on CBS suggesting that the Fed will […]