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At today’s monetary policy meeting the BoE cut the Bank Rate by 25bp to 4.75%, as was widely expected. In line with our view, the BoE delivered a hawkish twist to its guidance emphasising their gradual approach to reducing the restrictiveness of monetary policy. We think this supports our base case of the next cut […]

The post Bank of England Review – Gradual Easing Supports a Stronger GBP appeared first on Action Forex.

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19/08/2024

BTCUSD Completes Death Cross

BTCUSD trades sideways in the past few sessions Sentiment deteriorates after multiple rejections at 50-day SMA Momentum indicators are skewed to the downside BTCUSD (Bitcoin) has been losing ground in August, experiencing a strong selloff on the back of a downbeat July NFP report. In contrast to stocks, Bitcoin has failed to recover notable ground as the 50-day simple […]
05/12/2024

US: ISM Services Index Tumbles to Lowest Print Since June, But Still Points to Growth

The ISM Services index fell 3.9 points to 52.1 in November, well short of the 55.7 consensus expectations. Fourteen industries out of eighteen reported growth, the same as in October. Broad based weakness across component sub-indexes weighed on the headline measure. Business activity and new orders both suggested ongoing growth (53.7) despite falling 3.5 and […]
16/05/2024

Gold Retreats After Hitting Upper Bollinger Band

Gold remains bullish in near term RSI moves horizontally below 70 level Gold prices recorded their second session of losses in the 4-hour chart after a failed attempt to break significantly above the 2,400 round level. Chances for a reversal are increasing as the RSI is pointing south after the climb in the overbought region, while […]