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Gold prices continue to experience an upward trend, reaching 2368 USD per troy ounce, fuelled by growing market anticipation of a potential rate cut by the US Federal Reserve. As investors focus on upcoming US inflation data, gold remains a focal point of investment interest. In his recent testimony before Congress, Federal Reserve chair Jerome […]

The post Gold Prices Rise Amid Anticipation of Fed Rate Cut appeared first on Action Forex.

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02/02/2024

Bank of England Review – Removing the Tightening Bias

At today’s monetary policy meeting the BoE left the Bank Rate unchanged at 5.25% as widely expected. The BoE explicitly removed its tightening bias and signalled a shift to a more neutral stance on monetary policy. The reaction in EUR/GBP was muted with EUR/GBP set to end the day higher. As expected, the Bank of […]
04/06/2024

Bank of Canada Edges Closer to Rate Cut But Will it be in June?

Canadian inflation has been moving in right direction this year Investors have assigned a more than 80% probability of a June cut But will the BoC move before the Fed; decision is due Wednesday, 13:45 GMT The race to cut may be reaching the final hurdle As the race to cut rates reaches fever pitch, […]
06/09/2024

Canada’s Labour Market Continued to Cool in August

Canada’s labour market added a modest net 22k new positions, roughly on expectations. However, all the gains were in part-time job positions, which rebounded 66k after losses in July. Full-time positions gave back 44k. Growth in the labour force outpaced job gains, pushing the unemployment rate up two tenths to 6.6%, slightly higher than expected. […]