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Key insights from the week that was. Domestically, the main event was the RBA’s November policy meeting, where the Board decided once again to leave the cash rate unchanged at 4.35%. Communications on the day – via the decision statement, press conference, and Statement on Monetary Policy – provided more colour around changes to the […]

The post Cliff Notes: An Event-Filled Week appeared first on Action Forex.

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Elliott Wave View in EURGBP Calling for More Downside

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04/09/2024

Research US: Soft Landing Still in Sight

Economic growth is slowing mostly in line with our expectations, but we think recession risks remain low. We make only marginal adjustments to our forecast profile and see 2024 GDP growth at 2.5% (from 2.3%) and 2025 at 1.5% (unchanged). Potential output continues to grow at a brisk pace, supported by increases in labour supply, […]
11/01/2024

Rising (US) Yields Should Provide a Bottom for Dollar

Markets ECB’s Schnabel triggered some unexpected market action yesterday. The German board member lived up to her hawkish reputation by noting that talk about rate cuts is premature. That’s more so because the recent decline in bond yields, exactly because of rate cut expectations, have loosened financial conditions more than thought. Combined with sentiment indicators […]
01/10/2024

USD/CAD Can Be Trapped in a Triangle – More Weakness After Completed A-B-C-D-E Waves

USDCAD is reversing south after an unsuccessful push above 2022 highs, so it appears that pair is back in the range after making the first impulsive drop to 1.3450 back in August. Notice that after that drop in A, price rallied in wave (B) as expected, and stoped perfectly at 1.36 area as discussed in […]