Logo-color Logo-white

Trading in the forex markets remain calm, with little reaction to ECB’s widely anticipated 25bps rate cut. The move to lower its deposit rate to 2.25% was fully priced in. The central bank acknowledged that Eurozone growth prospects have deteriorated due to escalating global trade tensions, but this has long been embedded in market expectations. […]

The post No Reaction to ECB Cut as Markets Drift in Pre-Holiday Lull appeared first on Action Forex.

previous

Muted Markets Await ECB Cut, While US-Japan Trade Talks Show Tentative Progress

Read More

Selling Pressure Shifts to Yen and Swiss Franc, Dollar Recovers on Fed’s Hawkish Remarks
17/05/2024

Selling Pressure Shifts to Yen and Swiss Franc, Dollar Recovers on Fed’s Hawkish Remarks

Yen’s selloff resumed after brief recovery yesterday and continued to weaken throughout Asian session. Markets largely ignored comments from former BoJ chief economist Toshitaka Sekine, who suggested the next rate hike could happen as soon as in June. The general understanding is that BoJ will at least wait for Q2 data to confirm if Q1 […]
Market Panic Subsides as Consolidations Take Hold, but Sentiment Remains Fragile
10/08/2024

Market Panic Subsides as Consolidations Take Hold, but Sentiment Remains Fragile

The global financial markets started last week in a state of panic, driven by a sharp selloff in stock markets, with Japan’s Nikkei index experiencing particularly heavy losses. However, as the week progressed, this initial wave of panic appeared to subside, with market sentiment stabilizing somewhat. This calmness, however, should be viewed with caution. The […]
Dollar Holds Strong as June Rate Cut Expectations Wane; ECB to be Non-Event
11/04/2024

Dollar Holds Strong as June Rate Cut Expectations Wane; ECB to be Non-Event

Dollar remains firm in Asian session after the strong post-CPI rally. US stocks were deeply sold off as a June Fed rate cut is further priced out by the markets. Market attention is now keenly focused on the upcoming PPI for March, as well as University of Michigan’s consumer survey results. Should today’s PPI data […]