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We expect the Bank of England (BoE) to keep the Bank Rate unchanged at 5.25% on 21 March, which is in line with consensus and current market pricing. Overall, we expect the MPC to repeat its previous communication relying on a data dependent approach. We expect a muted reaction in EUR/GBP with risks tilted to […]

The post Bank of England Preview – We Still Pencil in the First Cut in June appeared first on Action Forex.

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13/06/2024

Sunset Market Commentary

Markets Yesterday’s ‘hawkish’ Fed dots raising governors’ 2024/25 inflation projections, a higher reference for the neutral rate (2.75% ) and indicating only one rate cut this year as the FOMC’s preferred interest rate scenario only limited the big decline in US yields post a softer than expected US may CPI release. US 2-y and 10-y […]
31/07/2024

EUR/USD Outlook: Rises on EU CPI and US Labor Data, Bear-Trap Forming on Daily Chart

EURUSD bounced on Wednesday after a triple rejection at 1.0800 support zone (50% retracement of 1.0666/1.0948 rally/daily Kijun-sen) signals formation of a bear-trap. Fresh gains were sparked by higher than expected EU inflation numbers in July which improved Euro’s sentiment and below expectations US ADP private sector payrolls signaling softening in US labor market and […]
08/04/2024

US CPI Data Unlikely to Ease Sticky Inflation Worries, But Will Markets Care?

US CPI inflation expected to have ticked up in March But markets may shrug it off if core figure inches lower Data due at 13:30 GMT, Wednesday, will be followed by FOMC minutes at 18:00 GMT Will CPI report boost rate cut bets? Inflation data according to the CPI and PCE measures have started to […]