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USDJPY edged higher on Friday morning, showing a partial recovery of Thursday’s 2.1% drop (the biggest daily drop since 1 May 2024). Long lower shadows of daily candles of today/Thursday) point to growing bids) although recovery is unlikely to accelerate as fundamentals remains favorable for safe haven Japanese yen. Risk aversion is on the rise […]

The post USD/JPY: Bears Take a Breather But Recovery Likely Limited appeared first on Action Forex.

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10/07/2024

New Zealand Dollar Takes a Tumble After RBNZ’s Dovish Tone

The New Zealand dollar is sharply lower on Wednesday. NZD/USD is trading at 0.6081 in the European session, down 0.72% on the day at the time of writing. RBNZ’s dovish tone raises rate cut expectations The Reserve Bank of New Zealand held the cash rate at 5.50% at today’s meeting, the eight consecutive time it […]
07/03/2025

Trump Extends Temporary Tariff Exemption for Canada and Mexico

In focus today In the euro area, we receive the final national accounts data for Q4, where attention will centre around the first release on hours worked and private consumption. In the US, focus turns to the February Jobs Report. We forecast NFP growth to slow down to +120k (Jan. +143k) due to negative seasonality, […]
29/08/2024

Gold Holds Steady: Will It Rise Again? US GDP Next

Key Highlights Gold gained pace and traded above the $2,500 resistance. A connecting bullish trend line is forming with support at $2,495 on the 4-hour chart. Oil prices faced resistance near $78.40 and trimmed some gains. The US Gross Domestic Product could grow by 2.8% in Q2 2024 (Preliminary). Gold Price Technical Analysis Gold prices […]