Logo-color Logo-white

Dollar advanced broadly after US President Donald Trump escalated trade war again with a fresh 35% tariff on Canadian imports. The announcement cited Canadian retaliation and the fentanyl crisis as justification, while threatening even steeper duties if Ottawa imposes further countermeasures. Trump’s sweeping tone extended beyond Canada. While 22 countries have received formal letters setting […]

The post Dollar Climbs as Trump Targets Canada, But Aussie Outshines appeared first on Action Forex.

previous

Mining Rally Lifts FTSE; Markets Shrug Off Expanding US Tariffs

next

Loonie Rebounds on Strong Jobs Data, Sterling Hit by GDP Miss

Read More

BoJ Decision Sends Yen Plummeting as Taper Plan Delayed
14/06/2024

BoJ Decision Sends Yen Plummeting as Taper Plan Delayed

The Japanese Yen has taken a significant hit today, losing ground against all major currencies after BoJ refrained from detailing an immediate plan to taper its bond purchases. In the lead-up to the announcement, expectations were high among traders and investors that BoJ would begin tapering soon, fueled by multiple media reports. However, the central […]
No Dovish Shift from RBA, Aussie Holds Ground with Rate Cut Delays Possible
05/11/2024

No Dovish Shift from RBA, Aussie Holds Ground with Rate Cut Delays Possible

Australian Dollar remained stable after RBA decided to keep the cash rate unchanged at 4.35% as widely expected. In the post-meeting press conference, Governor Michelle Bullock acknowledged that there has been “good progress” in reducing inflation. However, the central bank did not adopt a more dovish stance, which came as a surprise to some market […]
Aussie Recovers with RBA Hold and China Stocks Rally, But Momentum Tepid
06/02/2024

Aussie Recovers with RBA Hold and China Stocks Rally, But Momentum Tepid

Australian Dollar recovered mildly today, but momentum is so far limited. While RBA softened the hawkish stances after standing pat on rates, the left is still left open for more tightening. Governor Michele Bullock emphasized in the post-meeting press conference that the inflationary battle is far from won, while the board would keep this option […]