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Euro tumbled broadly after ECB’s decision to cut its deposit rate by 25bps, as widely expected. During the post-meeting press conference, President Christine Lagarde maintained a cautious tone, stressing that ECB is “not pre-committing to a particular rate path.” However, her overall stance leaned dovish, with a clear acknowledgment that “economic activity has been somewhat […]

The post Dovish ECB Rate Cut Pressures Euro, Gold Breaks to Fresh Record appeared first on Action Forex.

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Pound Strengthens on UK Jobs Data, But Eyes Further Economic Releases
13/08/2024

Pound Strengthens on UK Jobs Data, But Eyes Further Economic Releases

Sterling is making notable gains after UK employment data revealed an unexpected drop in the unemployment rate for June. Additionally, July’s figures showed continued growth in payrolled employment and a rebound in wage growth. This robust set of data strengthens the position of the hawks within BoE’s MPC, who incline to maintain a cautious stance […]
Eurozone Inflation Surprises Support Euro, ECB’s Holzmann Urges Patience on Policy
01/03/2024

Eurozone Inflation Surprises Support Euro, ECB’s Holzmann Urges Patience on Policy

Euro rises broadly today even though gains are so far limited. The common currency is lifted by stronger than anticipated Eurozone inflation figures, which suggests that the path to disinflation may be encountering obstacles. This development could providing ammunition to hawks within the ECB Governing Council, to advocate for a cautious approach towards rate cuts. […]
No Dovish Shift from RBA, Aussie Holds Ground with Rate Cut Delays Possible
05/11/2024

No Dovish Shift from RBA, Aussie Holds Ground with Rate Cut Delays Possible

Australian Dollar remained stable after RBA decided to keep the cash rate unchanged at 4.35% as widely expected. In the post-meeting press conference, Governor Michelle Bullock acknowledged that there has been “good progress” in reducing inflation. However, the central bank did not adopt a more dovish stance, which came as a surprise to some market […]