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Market picture In an impressive surge of more than 7.3% in 24 hours, the crypto market capitalisation reached $2.32 trillion. The crypto market hasn’t been worth this much since late 2021. Back then, it took two months to get from current valuations to a peak of $3 trillion. But it’s worth remembering that the rally […]

The post Early Flight to the Moon appeared first on Action Forex.

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20/03/2024

Happy Fed Day

Yesterday’s Bank of Japan (BoJ) decision to exit the negative rates went quite smoothly for equities and bonds, relatively disquieting for the yen. The USDJPY spiked past 151.50 this morning on BoJ’s commitment to keep the policy as accommodative as possible and keep buying Japanese government bonds until it’s sure it hits the 2% target […]
24/04/2024

Dollar Pullback from Overbought Territory Boosts Appeal

The US dollar’s gains stalled last week, and on Tuesday, it lost a third of a cent against a basket of major currencies to 105.4 from a peak of 106.3 the week before. Yesterday’s pullback more closely resembles the start of broader profit-taking than a reversal of the dollar’s upward trend since early March. The […]
02/09/2024

AUD/USD: Recent Rally of Aussie Dollar May Face a Ceiling Below 0.6900

The recent 7.4% rally in the AUD/USD from its 5 August 2024 low has been driven by a resurgence of risk-on behaviour and the US Fed’s dovish pivot. Weak China’s manufacturing PMI data and housing market are likely to be in the driving seat now to potentially dictate the sentiment of the AUD/USD. Further weakness […]