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We expect the Bank of England (BoE) to keep the Bank Rate unchanged at 5.25% on 20 June, which is in line with consensus and current market pricing. Overall, we expect the MPC to stick to its current communication, priming the markets for a forthcoming start to a cutting cycle. We expect the first 25bp […]

The post Bank of England Preview – Laying the Groundwork for an August Cut appeared first on Action Forex.

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15/03/2024

USD/JPY Rises, All Eyes on BoJ After Wage Deal

The Japanese yen has extended its losses against the US dollar for a fourth straight day and is down 1.1% this week. In the European session, USD/JPY is trading at 148.70, up 0.28%. Japanese unions win big, BoJ considering rate hike Japan’s largest trade union announced today that workers at Japan’s largest firms would receive […]
02/02/2024

USDCHF Wave Analysis

USDCHF reversed from resistance level 0.8680 Likely to fall to support level 0.8460 USDCHF currency pair recently reversed down from the key resistance level 0.8680, former strong support from August and December. The resistance level 0.8680 was strengthened by the upper daily Bollinger Band and by the 50% Fibonacci correction of the sharp downward impulse […]
04/12/2023

Gold’s Monumental Surge to All-Time Highs

On Friday and Monday, we saw legendary moves in gold. On Friday evening, the price rose to $2075 on the background of risk appetite with reduced liquidity in the instrument. On Monday, the price of gold reached $2145, a new historical price maximum. The nature of the movement on Friday and Monday morning suggests that […]