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In focus today Today, focus is on the monetary policy meeting in the ECB. The ECB is widely expected to deliver a 25bp rate cut, largely because the Governing Council members have stated as much. The updated June staff projections are expected to suggest that the prevailing economic and monetary policy narrative stays broadly unchanged, […]

The post ECB Rate Cut in Sight Today appeared first on Action Forex.

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11/04/2024

Strong Inflation Jumpstarts Dollar

US inflation once again beat expectations, causing markets to further discount the chances of an easing cycle starting in June. The dollar responded with a 1% rise against a basket of major currencies, taking the DXY back to 104.80. The dollar recorded two peaks near these levels in February and late March, and it has […]
07/06/2024

Time for the Spakfilla?

The national accounts confirmed that demand growth remained soft. Revisions to past tourism spending have no implications for future inflation but underline that weak supply is still an issue. This week’s national accounts confirm that the Australian economy is still soft. Domestic demand has limped along at a quarterly pace of 0.1–0.2% for a couple […]
03/01/2024

EUR/USD Holds Below Mid-1.0900s Ahead of US PMI, FOMC Minutes

EUR/USD edges lower to 1.0941 amid the firm USD. The US S&P Global Manufacturing PMI for December eased to 47.9 vs. 48.2 prior, weaker than expected. The increased odds of rate cuts from the European Central Bank (ECB) weigh on the Euro. The EUR/USD pair remains under pressure during the early Asian session on Wednesday. […]