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We expect the Bank of England (BoE) to keep the Bank Rate unchanged at 5.25% on 9 May, which is in line with consensus and current market pricing. Overall, we expect the MPC to soften its communication, priming the markets for imminent start to a cutting cycle. We expect the first 25bp cut in June. […]

The post Bank of England Preview – Setting the Stage for a June Cut appeared first on Action Forex.

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The Weekly Bottom Line: Holding Steady for Longer

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16/01/2024

British Pound Slips as Wage Growth Slides

UK wages ease to 6.5% GBP/USD falls UK to release inflation on Wednesday The British pound is sharply lower on Tuesday after a solid UK employment report. In the European session, GBP/USD is trading at 1.2641, down 0.68%. UK wage growth falls sharply The UK employment report indicated that the labour market remains solid while […]
07/05/2024

Dollar Basically Didn’t Go Anywhere

Markets Markets yesterday staged some follow-through price action on Friday’s post-payrolls/ISM easing, but the move gradually slowed in US dealings. Fed governors Williams and Barkin confirmed last week’s view of Chair Powell that the next Fed move will likely be a rate cut. A restrictive policy is bringing the economy in a better balance and […]
04/12/2023

Sunset Market Commentary

Markets Gold grabbed most headlines today. The price of bullion spiked to an all-time high in illiquid Asian dealings of $2130/ounce. The spike didn’t last with gold prices falling back towards Friday’s closing levels near $2060/ounce. The move smells like an exhaustion move after the October/November core bond rally pushed gold prices up by around […]