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The GBP/USD pair has risen to 1.2711, marking the third day of sustained buyer activity. This upward movement comes from comments from Bank of England Governor Andrew Bailey, who hinted at potential interest rate cuts in 2025 if the consumer price index (CPI) continues its downward trajectory. In a recent interview, Governor Bailey discussed the […]

The post GBP/USD Continues its Rally: Third Day of Buying appeared first on Action Forex.

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16/01/2024

Pound Enters Correction Phase

The British Pound has lost around 0.5% against the Dollar since the start of the day on Tuesday, falling to 1.2660. Markets have eased expectations for aggressive US interest rate cuts. In addition, UK employment data was released that provided new evidence of a slowdown. The fresh report for the three months to November showed […]
12/06/2024

US: Inflationary Pressures Cool More Than expected in May 

The Consumer Price Index (CPI) was flat in May, coming in below the consensus forecast calling for a modest gain of 0.1% month-on-month (m/m). On a twelve-month basis, CPI edged lower by 0.1 percentage points to 3.3%. Energy prices dipped by 2.0% last month, largely due to lower prices at the pump (-3.5% m/m). Food […]
15/11/2024

GBPUSD & EURUSD Outlook

Asian stocks were mixed today, influenced by weak Chinese data and uncertainty around US Federal Reserve policies. Fed Chair Jerome Powell’s cautious stance on cutting interest rates and stronger-than-expected US inflation data have reduced expectations for a December rate cut. This shift has strengthened the US Dollar and boosted Treasury yields. Traders are now closely […]