ActionForex.com was set up back in 2004 with the aim to provide insightful analysis to forex traders, serving the trading community for over a decade. Empowering the individual traders was, is, and will always be our motto going forward.
ActionForex.com was set up back in 2004 with the aim to provide insightful analysis to forex traders, serving the trading community for over a decade. Empowering the individual traders was, is, and will always be our motto going forward.
Aussie Lower ahead of RBA Decision
The Australian dollar is under pressure at the start of the new trading week. AUD/USD is trading at 0.6735 in Europe, down 0.50%. RBA expected to hike by 25 bp The RBA is widely expected to raise rates by 25 basis points on Tuesday, which would bring the cash rate to 3.60%, the highest level […]
Canadian Dollar Eyes Ivey PMI
The Canadian dollar is coming off a relatively quiet week but that could change as there a host of key releases this week. Ivey PMI kicks things off later today, followed by the Bank of Canada rate decision on Wednesday and the February employment report on Friday. Canada’s Ivey PMI recorded a massive rebound in […]
A Blessing in Disguise
It’s been a calm start to the week as investors weigh up what China’s modest growth target means for the global economy and look ahead to a busy few days. Safe to say markets were surprised by the decision to target only 5% growth this year while signaling no significant stimulus to turbo-charge the economic […]
Sunset Market Commentary
Markets Austrian ECB Governor Holzmann, never shy to drop a juicy quote, solidified his reputation as biggest hawk. He said the central bank should hike rates by 50 bps in March, May, June and July while it should also consider adding PEPP to QT in the fall. That would bring the deposit rate from 2.5% […]
Canadian jobs report, Bank of Canada decision back in the spotlight
All eyes will be on Canada’s labour market numbers next Friday after a shockingly strong 150,000 employment gain in January. The Canadian employment count is notoriously volatile. Two years of stop-and-start pandemic lockdowns have probably added to those challenges by making the data more difficult to seasonally adjust. And other labour market data hasn’t been […]
Money Markets Raised Fed Terminal Rate to 5.4%
Markets Core bonds tumbled on Friday. US yields soared 4.5 to 12.7 bps with the front end underperforming. The 2y yield (+11.7 bps) took out the November cycle high (4.799%) to close the week at a new one (4.81%). The 10y variant (3.942%) tested recent highs in an attempt to take out the 3.947% resistance […]
New Zealand Dollar Falls to 3-mth Low
The New Zealand dollar has extended its losses on Monday, after a dismal end to the week. In the European session, NZD/USD is trading at 0.6151, down 0.20%. Earlier, NZD/USD touched a low of 0.6131, its lowest level since Nov. 23. The US dollar flexed its muscles against the majors on Friday, courtesy of a […]
Pound Jumps on N. Ireland Hopes
The British pound has posted sharp gains on Monday, after falling below the symbolic 1.20 level on Friday. In the European session, GBP/USD is trading at 1.2026, up 0.72%. In the UK, the economic calendar is unusually quiet this week, with no tier-1 releases. There will be a host of BoE members speaking, including BoE […]
Sunset Market Commentary
Markets There is no stopping the repositioning on core (EMU and US) interest rate markets, even not in session with only second tier data. Economic confidence from the European Commission, contrary to most other data evidence of late, surprisingly deteriorated slightly (99.7 from 99.8 vs 101 expected). However, it was no reason to trigger a […]
Bouncing Back
Equity markets ended last week on a negative note but they’re bouncing back once more in trade on Monday. Interest rate fears are front and centre, following a terrible month of data from the US in January, as far as the Fed is concerned at least. That was further compounded on Friday by the PCE, […]
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