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The US Dollar has been in a weird trading zone since the contradicting NFP report from the beginning of the month (forcing a dovish hand) and the strong PPI report that has shown the appearance of tariff effects (forcing a hawkish hand). Since, the odds for a September cut have held tight, despite regressing slightly […]

The post What’s driving the US Dollar after Powell’s Friday remarks? Dollar Index (DXY) outlook appeared first on Action Forex.

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23/09/2024

Carry Trade to Give Way to Longer-Term Investment in Asian Growth

Attractive growth opportunities in Asia will support currencies and yields despite a narrowing rate differential with the FOMC. With the US FOMC having started its rate easing cycle, central bankers across emerging markets (EMs) are also getting ready to adjust policy. At the end of this cycle, policy rates across the region are likely to […]
07/06/2024

Canadian Dollar Eyes Can., US Job Data

The Canadian dollar has had a relatively quiet week and has ticked higher on Friday. In the European session, USD/CAD is trading at 1.3683, up 0.10%. We could see stronger movement from the pair in the North American session, when both the US and Canada release the May employment report. Canada’s job growth showed an […]
11/11/2024

Gold Price Takes Hit While WTI Crude Oil Eyes Upsides

Gold price is declining below the $2,700 support zone. Crude oil price is rising and it could climb further higher toward the $75.00 resistance. Important Takeaways for Gold and WTI Crude Oil Prices Analysis Today Gold price failed to clear the $2,800 resistance and corrected lower against the US Dollar. There is a key bearish […]