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Markets “Overall borrowing between 2024-25 and 2028-29 is higher than the March forecast by £142.2 billion, an average of £28.4 billion a year. This represents one of the largest fiscal loosenings of any fiscal event in recent decades.” It’s the UK Office for Budget Responsibility’s summary of Chancellor Reeves autumn Budget yesterday. UK gilts initially […]

The post Bank of Japan Delivered Much-Anticipated Status Quo appeared first on Action Forex.

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US GDP Update Came in Slightly Softer Than Expected

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23/12/2024

Canadian GDP Up in October, But Momentum Faded in November

The Bottom Line: Today’s GDP report shows Canadian economic growth accelerated in October from September; however, the early estimate points to a contraction (-0.1%) in November, consistent with preliminary reports showing softer wholesale sales, declining manufacturing volumes, and flat retail sales. The Bank of Canada’s December messaging pointed to a more gradual approach on rate […]
23/08/2024

NZ Dollar Slips Ahead of Retail Sales, Powell’s Speech

The New Zealand dollar is drifting on Thursday. In the North American session, NZD/USD has fallen to 0.6132 at the time of writing, down 0.41% on the day. The New Zealand dollar continues to have its way with its US counterpart and has soared 4% since July 29. New Zealand retail sales expected to slide […]
29/10/2024

Bitcoin Price Regains Strength: Is The Rally Back On?

Key Highlights Bitcoin price started a fresh increase from the $65,200 zone. BTC surpassed a major bearish trend line with resistance at $68,100 on the 4-hour chart. Gold prices could surge further above the $2,765 resistance. EUR/USD is consolidating losses above the 1.0760 zone. Bitcoin Price Technical Analysis Bitcoin price started a fresh increase above […]