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We expect the Bank of England (BoE) to keep the Bank Rate unchanged at 5.25% on 1 February, which is in line with consensus and current market pricing. Overall, we expect the MPC to deliver a dovish tilt to its guidance coupled with a downward revision to its inflation forecast. We expect EUR/GBP to move […]

The post Bank of England Preview – Topside Risk to EUR/GBP as BoE Removes Tightening Bias appeared first on Action Forex.

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13/03/2024

Risks for Next Week’s FOMC Meeting Seem Tilted to the Hawkish Side

Markets US Treasuries sold off yesterday after sticky February US CPI inflation data. Headline inflation accelerated from 0.3% M/M in January to 0.4% M/M with core inflation sticking at that 0.4% M/M pace for a second month running. The Fed’s so-called super-core inflation which zooms in on core services excluding shelter, rose by 0.5% M/M. […]
05/02/2024

Technical Outlook and Review

DXY: The DXY chart currently exhibits a bearish overall momentum, indicating a downward trend. According to the analysis, the price could potentially rise towards the 1st resistance in the short term before reversing off it and dropping towards the 1st support. The 1st support level at 102.71 is identified as an overlap support, suggesting that […]
30/07/2024

AUDCHF Wave Analysis

AUDCHF reversed from key support level 0.5735 Likely to rise to resistance level 0.5850 AUDCHF currency pair recently reversed up with the daily Japanese candlestick Piercing Line from the key support level 0.5735 (the previous monthly low from April, as can be seen below). The support level 0.5735 was strengthened by the nearby lower daily […]