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The RBNZ left the OCR at 5.5% as expected. The RBNZ took a more dovish view – easing looks to be coming earlier than they previously thought. The short-term inflation outlook seems more comfortable for the RBNZ. But it’s the weaker growth momentum that seems especially top of mind. The RBNZ’s monetary policy strategy is […]

The post RBNZ Review: Keeping It Tight… For a While appeared first on Action Forex.

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GBPUSD Wave Analysis

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02/04/2024

GBPUSD May See Support Soon From Inflection Area

Short Term Elliott Wave view in GBPUSD suggests that decline from 3.8.2024 high is unfolding s an impulse Elliott Wave structure. Down from 3.8.2024 high, wave (i) ended at 1.2745 and wave (ii) rally ended at 1.2823. Wave (iii) lower ended at 1.273 and wave (iv) ended at 1.2747. Final leg wave (v) ended at […]
13/08/2024

Brent Crude Oil Faces Demand Concerns Despite Recent Gains

After five consecutive days of upward movement, Brent crude oil is now experiencing a consolidation phase, with prices retreating slightly to 81.80 USD per barrel on Tuesday. Market sentiment is being influenced by renewed concerns over global oil demand, particularly following OPEC’s downward adjustment of its demand forecasts for 2024 and 2025. This adjustment reflects […]
14/05/2024

JPY Declines Again

The Japanese yen is declining against the US dollar for the seventh consecutive session. The USDJPY pair is approaching the 156.40 mark. Japan’s government is poised for close cooperation with the Bank of Japan on currency market issues. This is needed to avoid disagreements on the goals of the policies they pursue, stated Shunichi Suzuki, […]