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As expected, the ECB cut policy rates by 25bp today, bringing the deposit rate to 2.25%. The guidance struck a dovish tone, noting downside risks to growth and downplaying topside risks to inflation. Markets reacted by sending EUR/USD and European yields lower. We continue to expect the ECB to deliver 25bp cuts at the upcoming […]

The post ECB Review – Dovish Bias in Troubled Waters appeared first on Action Forex.

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27/08/2024

Yen Shrugs as Inflation BoJ Core CPI Dips

The Japanese yen has edged lower on Tuesday. In the European session, USD/JPY is trading at 144.76, up 0.17% on the day at the time of writing. BoJ Core CPI slips to 1.8% Is Japanese inflation falling? On Tuesday, two inflation indicators pointed to a deceleration in inflation in July. BoJ Core CPI, which is […]
24/06/2024

USD/JPY: Verbal Intervention Intensified But Real Intervention May Have to Wait

The USD/JPY has traded higher in the past 7 sessions and printed an intraday high of 159.85 last Friday, 21 June which coincided with its 34-year high of 160.23 printed on 26 April. Last week’s persistent JPY weakness prompted Japan’s Ministry of Finance Vice Minister-in-charge of the FX market to issue a “firmer” verbal intervention. […]
12/09/2024

NZD: New Lows May Be Formed Soon

According to UOB analysts, the New Zealand Dollar (NZD) could test the 0.6115 level, provided it stays below 0.6185. However, a significant break below this level isn’t expected at the moment. In the longer term, if NZD does manage to drop below 0.6115, it could potentially move further towards 0.6085. Earlier today, NZD traded between […]