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In focus today After yesterday’s hawkish surprise from Norges Bank, we revise our call for the first rate cut to come in March 2025 rather than September this year, see more below. This morning at 8.00 CET we get UK retail sales for May and later in the day June PMIs where consensus is for […]

The post Focus Turns to June PMIs After Central Bank Bonanza appeared first on Action Forex.

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07/02/2024

German Factories Orders Get Boost from Major Airplane Orders

In focus today The Polish central bank announces its base rate at 14.30. We expect them to maintain their current rate level of 5.75%. Early Thursday morning, Chinese CPI and PPI for January is released, and set to show another deflation print on the headline and thus continue the downbeat news flow out of China. […]
20/12/2023

GBP/USD Deflated By Softer Than Expected UK November Inflation Data

Cable dropped on Wednesday morning on softer than expected UK November inflation, losing around 0.4% after data release. Stronger than expected drop in consumer prices adds support to rate cut scenario, making pound less attractive, though latest comments from BOE’s deputy governor about keeping restrictive policy for some time, may partially offset impact from inflation […]
07/06/2024

ECB Cuts Rates as Expected, US Jobs Report Today’s Main Event

In focus today Today’s main data event will be the US May Jobs Report. We expect nonfarm payrolls to have grown by 190k, a modest uptick from April when weak public sector jobs growth weighed on the headline figure. Average hourly earnings growth likely remained steady at 0.2% m/m and we think unemployment rate will […]