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The dollar index remains constructive and edged higher on Wednesday after data showed that US economy slipped in the first quarter against consensus for a small rise, though it showed better results from expectations of some big US banks. The greenback is still firmly negative overall, suggesting that larger bearish cycle is far from over […]

The post Dollar Index on Track for the Biggest Monthly Loss Since November 2022 appeared first on Action Forex.

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15/10/2024

WTI Outlook: Oil Prices Fall Further on Demand Concerns, But Geopolitics Remain Supportive

Oil price extends steep decline into the second consecutive day and hit two week low in early Tuesday, after the price fell nearly 4% on Monday. Oil was deflated by weaker demand outlook and signals that Israel will not strike Iranian oil infrastructure. OPEC cut its forecast for global oil demand in 2024, which increased […]
02/04/2024

EURJPY Pulls Back Towards Crucial Trendline

EURJPY retraces lower following a 16-year peak Tests ascending trendline drawn from July 2023 Oscillators suggest weakening momentum EURJPY had been in a steady advance since December 2023, peaking at a fresh 16-year high of 165.34 on March 20. Since then, the pair has been undergoing a downside correction, with the upward sloping trendline that connects higher […]
06/04/2024

Weekly Economic & Financial Commentary: Strong Jobs Numbers Diminish Urgency for Rate Cuts

Summary United States: Strong Jobs Numbers Diminish Urgency for Rate Cuts Nonfarm payrolls expanded 303K in March, surpassing all estimates submitted to Bloomberg. The continued strength in hiring suggests less urgency for policymakers at the Federal Reserve to lower the target range of the fed funds rate. Recent comments from FOMC members have homed in […]