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GBPUSD pares some gains after posting a 4-month peak But remains within its upward sloping channel Positive bias holds as momentum indicators are skewed to the upside GBPUSD had been forming a profound structure of higher highs following its break above a crucial descending trendline in early November. Although the pair’s rally has temporarily paused at the […]

The post GBPUSD Begins 2024 in a Muted Tone appeared first on Action Forex.

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Could Euro Area CPIs Unsettle ECB Rate Cut Expectations?

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05/04/2024

ECB Preview – An Intention to Cut

We expect the key takeaway from next week’s ECB meeting will be an affirmation of the prevailing ECB narrative, of the ECB on route to deliver a rate cut in June. While this meeting may be considered an interim meeting, and lead to limited market reaction, we expect the ECB to deliver a clear commitment […]
05/07/2024

Gold Maintains Upward Trend as Market Anticipates US Jobs Data

Gold prices have continued their ascent, with a troy ounce of the precious metal reaching USD 2363. This rise is primarily fuelled by anticipated US employment data for June, which could significantly influence the Federal Reserve’s rate decisions. Recent US economic indicators, including a contraction in the service sector and weaker-than-expected private sector employment figures […]
17/08/2024

Steady Inflation Shouldn’t Prevent Another BoC Rate Cut

The easing of Canadian inflation pressures has slowed in recent months. On Tuesday, we expect annual price growth for both the headline and excluding food & energy measures to hold steady at 2.7% and 2.9%, respectively, in July. Shelter inflation still accounts for a disproportionate share of the increase, but that has been slowing with […]