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Global markets found some stability after the US agreed to a 30-day delay on tariffs against Mexico and Canada following agreements on fentanyl trafficking and border security measures. However, trade tensions remain elevated as Washington proceeded with the additional 10% tariff on all Chinese imports. In response, China retaliated by imposing a 15% tariff on […]

The post Markets Stabilize, But Trade Risks Persist as US Imposes China Tariffs, Beijing Strikes Back appeared first on Action Forex.

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Yen Rebounds Vigorously Post-160 Breach as Traders Take Profits
29/04/2024

Yen Rebounds Vigorously Post-160 Breach as Traders Take Profits

Japanese Yen mounted a strong comeback in Asian session today after initial dip through 160 psychological support against Dollar. While the moves are exaggerated by today’s thin trading volumes due to public holiday in Japan, the strong rebound is marked by widespread squaring of short positions. Traders are clearly on guard against intervention by Japanese […]
Unexpected UK CPI Boosts Sterling, Risk Aversion Continues
17/01/2024

Unexpected UK CPI Boosts Sterling, Risk Aversion Continues

Sterling emerged as the star performer in today’s market, largely driven by surprising inflation data from the UK. CPI inflation in December showed an unexpected acceleration, with core CPI remaining at elevated level. This development led to a swift change in the market’s perspective concerning BoE’s policy, reducing the anticipated number rate cuts this year […]
Sterling Steady as UK Inflation Eases; Australian Dollar Strengthens
19/06/2024

Sterling Steady as UK Inflation Eases; Australian Dollar Strengthens

British Pound held steady following release of UK data showing decrease in both headline and core consumer inflation for May. This development is unlikely to influence BoE decision tomorrow, where a rate hold is widely anticipated. Although BoE is expected to begin cutting interest rates soon, this plan has been delayed due to the unexpected […]