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U.S. retail sales and consumer price index reports for January will be closely watched for whether strong consumer spending and slowing inflation continue to unexpectedly coexist. The U.S. Federal Reserve remains wary that strong demand could reignite price growth, but to date, inflation has continued to edge broadly lower. Strong consumer spending and resilient labour […]

The post U.S. Inflation to Fall Below 3% for First Time in Nearly Three Years appeared first on Action Forex.

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01/05/2024

Could Monday’s Intervention Turn the Tide for Yen?

Japan allegedly intervened for the first time in six months Most recent interventions did not produce concrete results A more hawkish BoJ is probably needed for a sustained yen rally Japan has a long history of market interventions, to weaken or prop up its currency. Several times since the 1990s, Japan, unilaterally or with help […]
20/02/2024

Yen Bears Have a Good Chance of Reaching Lows Not Seen Since 1990

The Japanese yen is hovering near 150 per dollar, retreating from last week’s four-month highs of 151. The 150-152 area is hazardous for short-term traders, as this is the level from which the Japanese Ministry of Finance intervened in October 2022 and November 2023 to stop the currency from depreciating. However, it would be too […]
11/06/2024

USD/JPY: Remains Constructive and Eyes US Inflation and Fed Verdict for Fresh Direction Signals

USDJPY remains constructive and probing above 157 barrier (the upper borderline of triangular consolidation and Fibo 61.8% of 160.19/151.85 bear-leg), but ranges are narrowing ahead of key releases this week – US inflation report and Fed rate decision, both due on Wednesday. The dollar stands at the front foot following stronger than expected US jobs […]