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We have added additional rate cuts at the November and January FOMC meetings to our profile. Our unrevised terminal rate of 3.375% is now seen at end-2025 instead of mid-2026. July’s US employment report unnerved global markets. Growth in nonfarm payrolls slowed to less than half the average of the prior twelve months (including revisions) […]

The post FOMC to Act Decisively, But With Confidence appeared first on Action Forex.

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22/05/2024

RBNZ Review: Doing the Hard Yards

The RBNZ left the OCR at 5.5% at its May policy meeting, as was widely expected. The RBNZ discussed the possibility of tightening at this meeting but concluded that they retain sufficient confidence to leave the OCR unchanged. Cuts were not discussed. The revised projections lifted the OCR track. A first easing is forecast in […]
05/07/2024

Anything But a Significant NFP Beat Probably Triggers Higher Bond Prices and Weaker Dollar

Markets An uneventful session yesterday put the UK elections in the spotlights. It’s already clear by now that Labour won enough seats to secure a majority (at least 326 seats of the 650 up for grabs) after being in the opposition for 14 years. Exit polls taken after voting booths closed at 10 PM yesterday […]
15/03/2024

Looking Beyond the Horizon

The macro outlook is unchanged from our view of recent months. Two years of slow growth could result in economic slack, with inflation ultimately undershooting the RBA’s target. What forces could emerge to offset this? This week we released fresh forecasts in our Market Outlook publication. The national accounts came in broadly as we expected, […]