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NZD/USD tumbled sharply after the RBNZ’s 50bps rate cut to 2.50%, with policymakers retaining an easing bias that signaled scope for further reductions ahead. The policy shift reignited downside momentum in NZD/USD, which broke through 0.5753 support, signaling a renewed leg lower in the ongoing decline from 0.6119. Technically, near term outlook will stay bearish […]

The post NZD/USD plunges after dovish RBNZ cut; Break below 0.5686 may accelerate losses appeared first on Action Forex.

RBNZ delivered a larger 50 bps rate cut, lowering the Official Cash Rate (OCR) to 2.50% at today’s meeting. The central bank maintained its easing bias, saying it “remains open to further reductions in the OCR” to ensure inflation returns sustainably to 2% over the medium term. Minutes of the meeting showed the Monetary Policy […]

The post RBNZ delivers 50bps cut, signals readiness to ease further if needed appeared first on Action Forex.

Cooling from all-time highs, the Dow Jones (DJ30) trades 0.33% lower in today’s session, at around $46,594. Having found support early August, US equities have staged a formidable rally since, despite a somewhat questionable cocktail of macroeconomic themes. As always, let’s review some macro themes impacting US equity markets, and importantly, consider some potential price […]

The post Dow Jones (DJ30) Cools Off All-Time Highs as US Government Shutdown Rumbles on – Potential Targets and Price Forecast appeared first on Action Forex.

Mainland China and South Korean markets are closed for the holidays.

Gold (XAU/USD) continues its historic climb, notching yet another all-time high near $3,991 on Tuesday.

The Dow Jones Industrial Average (DJIA) knocked lower on Tuesday, following the broader market into the low side. Investors are reconsidering their disregard for the US government shutdown that has dragged into its second week and shows no signs of resolution.

The Dow Jones Industrial Average (DJIA) knocked lower on Tuesday, following the broader market into the low side. Investors are reconsidering their disregard for the US government shutdown that has dragged into its second week and shows no signs of resolution.

United States 3-Year Note Auction: 3.576% vs 3.485%