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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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02/07/2024

WTI Oil Outlook: Price Rises Above $84 for the First Time in Over Two Months

WTI oil price rose to nine-week high on Tuesday, in extension of strong Monday’s strong rally (up almost 2.5% for the day). Increased demand due to summer driving season and persisting supply fears on heated geopolitical situation inflate oil price, which rose above $84 per barrel for the first time since late April. Bullish technical […]
11/10/2024

US Inflation Printed Hotter Than Expected and Contained Some Important Hawkish Details

Markets US September inflation printed hotter than expected and contained some important hawkish details such as rising food prices and accelerating supercore services inflation (to an annualized 3mMA of around 4%). Several Fed officials including NY’s Williams, Chicago’s Goolsbee and Richmond’s Barkin were not too worried and focused on the broader picture in which inflation […]
17/04/2024

Focus Turns to Final March Inflation for Euro Area

In focus today Today, focus is on the final inflation data for March in the euro area. We particularly look out for inflation components that reflect domestic demand as service inflation remained elevated in March. The final data will also allow us to estimate how much the timing of Easter impacted the March numbers and […]