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Markets The Fed kept the policy rate stable at the 5.25%-5.50% range yesterday. The statement did feature some changes, including that “In recent months, there has been a lack of further progress toward the Committee’s 2 percent inflation objective.” It also announced that the Fed will reduce the pace of QT in Treasuries from $60bn […]

The post FX Interventions Do Not Change a Currency’s Fundamental Course appeared first on Action Forex.

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19/12/2023

Canada: Cloudy Signals on Inflation in November Have a Sliver Lining

Canadians aren’t getting much relief on inflation for Christmas this year, with CPI inflation remaining at 3.1% on a year-on-year (y/y) basis in November. For headline inflation, Statistics Canada cited that higher prices for travel tours (+26.1% y/y,) due to events held in destination cities in the U.S. (potentially due to Formula 1 in Vegas) […]
22/03/2024

Bank of England Review – Gearing Up for a June Cut

At today’s monetary policy meeting the BoE left the Bank Rate unchanged at 5.25% as widely expected. The BoE delivered a dovish twist to its forward guidance and general communication. This marks an important first step to an eventual cutting cycle. EUR/GBP moved slightly higher on the dovish vote split and communication. As expected, the […]
12/12/2023

US: Price Gains Across Still-Hot Service Sector Keep Upward Pressure on Core Inflation

The Consumer Price Index (CPI) rose 0.1% month-on-month (m/m) in November, a tick above the consensus forecast and a modest uptick from October. On a twelve-month basis, headline inflation slipped to 3.1% (from 3.2%). Energy prices were a key factor restraining the headline measure, falling 2.1% m/m. The pullback was entirely due to another drop […]