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At today’s monetary policy meeting the BoE left the key policy rate unchanged at 5.25% as widely expected. The BoE delivered hawkish communication in an attempt to push-back on markets expectation of rate cuts next year. EUR/GBP declined on the back of the statement but fully retraced the move following the ECB meeting, in line […]

The post Bank of England Review – Push-Back on Rate Cut Expectations appeared first on Action Forex.

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22/05/2024

Gold Price Primed To Extend Gains – Here’s Why

Key Highlights Gold started a fresh increase above the $2,420 resistance. A connecting bullish trend line is forming with support at $2,410 on the 4-hour chart. Oil prices are consolidating losses below $80.00. EUR/USD could aim for a steady increase above the 1.0885 resistance. Gold Price Technical Analysis Gold prices started a fresh increase above […]
10/06/2024

EUR/USD Tumbles: Euro Faces Bearish Pressure

Key Highlights EUR/USD started a fresh decline from the 1.0915 resistance. It traded below a key bullish trend line with support at 1.0810 on the 4-hour chart. GBP/USD rallied toward 1.2700 before the bears appeared. Gold prices dipped again and traded below $2,320. EUR/USD Technical Analysis The Euro started a decline after it failed near […]
29/06/2024

Weekly Economic & Financial Commentary: Yen Reaches Its Weakest Level Against the Greenback since 1986

Summary United States: It May Be Hot Outside, but Inflation Is Finally Cooling According to the Federal Reserve’s preferred gauge, core inflation cooled to its softest pace in more than three years in May against a backdrop of measured consumer spending and still-strong personal income. Elsewhere, the effect of higher rates remains evident in uninspiring […]