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As widely expected, the European Central Bank (ECB) announced a 25bp rate cut when it met yesterday, but raised its inflation target for this and the next year, warned that the road for easing inflation could be bumpy, and ruled out a July rate cut. The market no longer prices a full rate cut by […]

The post All Eyes on US Jobs Data as Two G7 Banks Start Cutting Rates appeared first on Action Forex.

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26/06/2024

AUD/USD Surges on Inflation News in Australia

This morning, the Consumer Price Index (CPI) figures for Australia were released – according to ForexFactory, the annual CPI stood at 4.0% (expected = 3.8%, previous = 3.6%). As Bloomberg reports: → Rent was the main driver of inflation due to a housing shortage. → The spike in inflation increases the risk of an RBA […]
06/08/2024

EURCHF Wave Analysis

EURCHF reversed from support level 0.9255 Likely to rise to resistance level 0.9370 EURCHF currency pair today reversed up from the powerful support level 0.9255, which stopped the weekly downtrend at the end of 2023. The support level 0.9255 was strengthened by the lower daily and the weekly Bollinger Bands. Given the oversold daily Stochastic […]
30/04/2024

US Money Markets Have Discounted a New Hawkish Fed Pivot

Markets What a difference some inflation prints make… Following the Fed’s pivot in November and December of last year, markets rapidly turned to expecting policy rate cuts. The language in official statements changed from assessing to whether any additional policy firming might be appropriate to considering when it would be appropriate to reduce the target […]