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Stronger Inflation Data Fails to Lift Dollar; Yen’s Decline Persists
Posted 26 April 2024
Dollar remains stable in early US session despite release of another set of persistently high inflation figures. The strong rebound in DOW futures suggest that investors are somewhat relieved to see no disastrous surge in inflation rates. Additionally, robust spending growth appears set to continue bolstering the US economy, even as Fed is set to […]
The post Stronger Inflation Data Fails to Lift Dollar; Yen’s Decline Persists appeared first on Action Forex.
Yen’s Free Fall Resumes Post-BoJ; Dollar Eyes PCE Inflation Data for Rescue
Posted 26 April 2024
Japanese Yen resumes its free fall today, after a brief pause, and reaches new 34-year low against Dollar. Yen’s weakness is also broad-based and evident against other major currencies, with EUR/JPY marching towards its 2008 high and GBP/JPY heading to its 2015 peak. It’s clear that the absence of strong verbal interventions from Japanese officials […]
The post Yen’s Free Fall Resumes Post-BoJ; Dollar Eyes PCE Inflation Data for Rescue appeared first on Action Forex.
Disappointing GDP Growth and Rising Inflation Spark Risk Sentiment U-Turn
Posted 25 April 2024
Risk sentiment took a sharp downturn following the release of US Q1 GDP data, which revealed weaker-than-expected economic growth alongside an acceleration in both headline and core PCE price indexes. This combination suggests that the US economy may be caught in a challenging cycle where high interest rates are dampening economic activity without effectively curbing […]
The post Disappointing GDP Growth and Rising Inflation Spark Risk Sentiment U-Turn appeared first on Action Forex.
Yen Weakens Further as Market Eyes Possible 160 Mark, Dollar Awaits Key GDP Data
Posted 25 April 2024
Japanese Yen’s accelerated decline captured significant attention in Asian session, while the broader currency markets remained generally stable. Market participants interpret the apparent lack of urgency from Japanese officials to address Yen’s fall as a tacit approval for its continued depreciation. This perspective gains significance following the recent trilateral meeting between Japan, South Korea, and […]
The post Yen Weakens Further as Market Eyes Possible 160 Mark, Dollar Awaits Key GDP Data appeared first on Action Forex.
US PCE Data Beats Expectations - Price Pressures Delay Rate Cut Plans
Posted 26 April 2024Year-on year US PCE data followed on from yesterday’s quarterly surprises to give the FOMC something to think about when they meet next week to set interest rates
Japanese Yen Slumps to Fresh Multi-Decade Lows, USD/JPY Eyes US PCE Report
Posted 26 April 2024The Japanese Yen continued to fall to new multi-decade lows against a range of currencies after the BoJ left monetary policy unchanged. Weaker-than-expected Tokyo inflation the driver of the latest move.
Gold, Silver Price Outlook: Precious Metals Seek Directional Cue
Posted 25 April 2024Gold and silver have pulled back from their respective highs, looking for the next catalyst. With risk sentiment improving, precious metals may find support from a softer USD
Crude Oil Prices Retrace Some Losses Despite US Demand Doubts
Posted 25 April 2024US crude inventories fell, but much of this was down to oil exports rather than strong local demand.
US Q1 GDP Misses Forecasts, PCE Beats Estimates, US Dollar Moves Higher
Posted 25 April 2024The US economy expanded by 1.6% q/q in the first three months of the year, missing estimates of 2.5% and down from 3.4% in Q4 2023. US dollar firms after PCE figures nudge higher.
Yield Curve Inversion and its Economic Implications
Posted 25 April 2024Yield curve inversion has historically been associated with economic slowdowns and recessions in the US.
USD/JPY Breaches ‘Line in the Sand’ Ahead of BoJ Meeting
Posted 25 April 2024The yen continues to depreciate, adding pressure to Japanese authorities to respond. Will recent wage growth and yen weakness bring the inflation target within reach?