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The UK unemployment rate fell to 4.0% in August, the lowest since January, and went down from a peak of 4.4% in April and May. The data beat expectations and supported Sterling buying from intraday lows below 1.3040. Employment figures have been gaining momentum in recent months, with 373K more jobs created in July and […]

The post Fall in Unemployment Supports Pound, But Concerns Grow appeared first on Action Forex.

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19/06/2024

NZD: Market Breakdown Ahead of GDP Release

The NZDUSD pair rose nearly a quarter of a percent to the 0.6110s after the US Dollar weakened following disappointing US Retail Sales data for April and May. The lower-than-expected retail sales growth in May and downward revisions for April indicate a slowdown in US consumer spending, leading to revised market expectations of future US […]
25/07/2024

Markets Gradually Moving to a Scenario of Fed Cutting Cumulative 75 bps This Year

Markets Market focus yesterday initially was on the PMI releases. Later sentiment turned sharply risk-off even as there was no outright link between both storylines. EMU PMI’s (50.1 from 50.9) indicated that activity came to an almost standstill at the start of Q3. This triggered a further dis-inversion/steepening of the EMU/German curve, even as costs/price […]
31/05/2024

Bank of Canada Set to Make the First Interest Rate Cut Next Week

All ducks appear to be in a row for the Bank of Canada to kick-start the policy easing cycle and lower the overnight rate by 25 basis points to 4.75% on Wednesday. The move follows cuts from the Swiss National Bank and the Riksbank (central bank of Sweden) in recent weeks and comes after the […]