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Data today from the Australian Bureau of Statistics on Wednesday showed the monthly consumer price index (CPI) rose 4.3% year-on-year in November, the slowest pace since January 2022. Value a month earlier = 4.9%. Market forecasts = 4.4%. This strengthened market expectations that interest rates would not have to rise further. Although the head of […]

The post Inflation in Australia Continues To Decline. AUD/USD Tests Important Support appeared first on Action Forex.

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29/05/2024

WTI Oil: OPEC+ Likely to Keep Its Production Cut and Further Support the Price

WTI oil price rose further on Wednesday, extending advance into fourth straight day, following strong acceleration on Tuesday, which resulted in a daily gain of 2.1% and close above important barriers at $79.83/$80.00 (200DMA / psychological). Bulls cracked next pivot at $80.52 (Fibo 38.2% of $87.61/$76.13), with close above this level to validate bullish signal […]
30/08/2024

Cliff Notes: Capacity is Paramount

Key insights from the week that was. In Australia, the latest Monthly CPI Indicator reported an easing in both headline and underlying (trimmed mean) inflation, from 3.8%yr and 4.1%yr in June to 3.5%yr and 3.8%yr in July respectively, broadly in line with expectations. The onset of cost-of-living relief measures were crucial to the latest step-down, […]
20/05/2024

Bitcoin Cautious Despite Global Rise in Risk Appetite

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