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Dollar strengthened broadly in the wake of Fed’s policy decision overnight, although upside momentum remains measured. On the one hand, the updated dot plot maintained projection of two rate cuts in 2025. On the other hand, Chair Jerome Powell offered little to reinforce that view. Instead, he bluntly acknowledged that none of the rate path […]

The post Dollar Firms as Fed Embraces Caution Over Tariff-Driven Inflation; SNB and BoE Next appeared first on Action Forex.

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Yen Slides on BoJ Caution and Soft Inflation, Verbal Intervention Curbs Losses
27/12/2024

Yen Slides on BoJ Caution and Soft Inflation, Verbal Intervention Curbs Losses

Yen saw broad declines during Asian session, briefly falling below 158 against Dollar, but the selloff was quickly mitigated by verbal intervention, as least partially. The decline was triggered by weaker-than-expected Tokyo inflation data. Stripping out energy and food prices, core-core inflation remained relatively stable, signaling limited urgency for BoJ to proceed with further rate […]
Dollar Jumps after Strong NFP, Traders Abandon Bets on 50bps Fed Cut
04/10/2024

Dollar Jumps after Strong NFP, Traders Abandon Bets on 50bps Fed Cut

Dollar surged across the board during early US trading after the all-around stronger-than-expected non-farm payroll report. The data showed much higher-than-anticipated job growth, a slight decrease in unemployment rate, and an acceleration in wage growth. This robust set of figures has led traders to largely abandon bets on a 50bps rate cut by Fed in […]
NZD Rallies on Strong Q2 Employment Data; JPY Sinks Amid BoJ Caution
07/08/2024

NZD Rallies on Strong Q2 Employment Data; JPY Sinks Amid BoJ Caution

New Zealand Dollar surged strongly today following much better than expected Q2 employment data.. Speculations of an early rate cut by RBNZ next week now seem exaggerated. Major banks still expect RBNZ to start easing monetary policy this year, with consensus pointing to the November meeting. However, there’s still a possibility that RBNZ could signal […]