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The Bank of England (BoE) faces a tricky balancing act as it prepares for its next policy decision. While the British economy has shown signs of contraction—shrinking by 0.1% for the second consecutive month—the latest BoE/Ipsos inflation expectations survey highlights a rise in public inflation concerns. Average inflation expectations for the coming year have increased […]

The post GBPJPY: Bearish Outlook appeared first on Action Forex.

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22/12/2023

Forward Guidance: December Jobs Data to Add to Evidence that Interest Rates Are High Enough

Forward Guidance will be on vacation next week, with the next edition to come January 5th, 2024. Happy Holidays! The holiday week ahead is empty of major economic data releases, but the new year will kick off with a fresh set of high profile Canadian and U.S. labour market data. We expect Canadian employment to […]
15/03/2024

USD/JPY Could Recover, Crude Oil Price Breaks $80

Key Highlights USD/JPY is attempting a recovery wave from the 146.50 support. A key rising channel is forming with support at 147.50 on the 4-hour chart. Crude oil prices surged above the $80.00 resistance zone. Gold prices are consolidating near the $2,150 zone. USD/JPY Technical Analysis The US Dollar declined heavily below the 148.00 zone […]
30/10/2024

Gold Wave Analysis

Gold broke resistance level 2750.00 Likely to rise to resistance level 2800.00 Gold recently broke above the minor resistance level 2750.00 (which stopped the previous minor impulse wave 1 earlier this month). The breakout of the resistance level 2750.00 should accelerate the active intermediate impulse sequence (5) from the start of October. Given the strong […]