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Germany goes to the polls, but far-right AfD unlikely to form government. German CPI data might be bigger driver for the Euro. US inflation also in the spotlight as PCE report awaited. CPI releases in Australia and Japan, Canadian GDP also on tap. Will German elections change the outlook much? When Germany’s chancellor, Olaf Scholz, […]

The post Week Ahead – German Elections and US PCE Inflation on Investors’ Radar appeared first on Action Forex.

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07/02/2024

Ethereum Nears Recent Turning Point

Market Picture The crypto market cap remained at $1.65 trillion. Bitcoin spent another day almost unchanged at $42.8K. Ethereum was a major growth driver, gaining 1.6% on the day to $2,350 and reversing to the downside as it approached $2,400. This is the same place where we saw a reversal at the end of January […]
07/05/2024

Yen Extends Losses, Fed Members Cautious

The Japanese yen is down for a second straight day on Tuesday. USD/JPY has risen 0.45%, up 154.59, up 0.45% at the time of writing. The yen is down 1% this week after soaring 3.4% against the dollar a week earlier. The markets are still buzzing after Japan’s Ministry of Finance apparently intervened twice last […]
21/05/2024

Commodity Currencies Retreat from Local Highs

Despite the cooling labour market in the US and declining inflation, the American currency continues to move towards new highs. For instance, the USD/JPY currency pair might update the current month’s high at 156.70, the NZD/USD sharply declines after retesting 0.6140, and buyers of the USD/CAD pair have confidently secured a position above 1.3600. USD/CAD […]