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US CPI expected to edge higher to 3.2% UK GDP projected to rebound to 0.2% The British pound is unchanged on Thursday, trading at 1.2741 in Europe. We could see some movement from the pound in the North American session following the release of the US inflation report. On Friday, the UK releases GDP, which […]

The post GBP/USD Flat Ahead of US Inflation Data appeared first on Action Forex.

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12/06/2024

US CPI and FOMC Rate Decision Today

In focus today Today’s main events will be the US May CPI at 14.30 CET followed by the FOMC rate decision at 20.00 CET. We expect the Fed to maintain monetary policy unchanged in line with broad consensus and market pricing. The median rate projection on the updated ‘dot plot’ is likely to signal only […]
11/04/2024

Bank of Canada Monetary Easing Door Slightly Ajar

Summary The Bank of Canada (BoC) held its policy interest rate steady at 5.00% at today’s monetary policy announcement, an outcome that was widely expected. However, the accompanying statement pointed to the potential for lower policy interest rates in the months ahead. BoC Governor Macklem said “we are seeing what we need to see” to […]
06/03/2024

Bitcoin Spooked by Highs, Ethereum Still Climbing

Market picture The cryptocurrency market is building capitalisation towards the 24-hour level, but it’s a relatively modest +0.6% to $2.51 trillion. That’s close to, but still below Tuesday’s highs. Bitcoin briefly topped $69K on Tuesday, setting a new all-time high, but has since corrected by more than 15%. The size, speed and nature of the […]