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Markets German Bunds significantly outperformed US Treasuries yesterday, especially at the front end of the curve. The German 2-yr yield lost 7.2 bps compared with a 4.7 bps increase for the US 2-yr yield. EUR/USD as a result tested 1.0778 support a first time (close: 1.0782). ECB governors kept all options open for the December […]

The post EMU Money Markets Currently Attach Near 50% Probability to ECB Scaling Rate Cuts Up to 50 bps in December appeared first on Action Forex.

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16/12/2024

Flash PMIs in focus

In focus today Today all eyes are on the euro area December flash PMIs as the very large decline in November caused significant market moves. There was nothing positive in the November report where the services PMI fell below 50 to 49.5 for the first time since January, and the manufacturing PMI remained stuck at […]
02/08/2024

Canada’s July Employment Report Will Confirm a Weaker Labour Market

The Canadian jobs report for July next Friday is expected to show more softening in the labour market. Employment gains have already slowed substantially into the summer, and we expect July will be no exception with 15,000 new jobs added. Against a still rapidly rising population, the unemployment rate will likely have ticked higher again […]
18/04/2024

EUR/USD: Holds Grip But Recovery Still Requires Confirmation

The Euro remains constructive and ticks higher in early Thursday after Wednesday’s 0.5% bounce from new multi-month low, but initial reversal signal still needs more evidence to be validated, as daily studies are predominantly bearish. Another strong bullish daily close is needed to keep in play hopes of stronger recovery, with close above pivots at […]