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Inflation in the US accelerated, not only in terms of monthly headline figure but everywhere, both core and headline, and both yearly and monthly figures came in hotter-than-expected. While gasoline prices counted among the major drivers of monthly inflation, shelter, electricity, used cars, air travel and clothes remained the major drivers of inflation on a […]

The post Hotter-Than-Expected Inflation Will Likely Call for Caution at Next Week’s FOMC Meeting appeared first on Action Forex.

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25/01/2024

Bank of Canada Holds Steady, Recognizing that Shelter Inflation is the Issue

The Bank of Canada maintained the overnight rate at 5.0%, while stating that it will continue with quantitative tightening (QT). The Bank highlighted the slowing in economic momentum stating, “the economy has stalled since the middle of 2023 and growth will likely remain close to zero through the first quarter of 2024”. The Bank also […]
09/07/2024

NZD Edges Lower Ahead of RBNZ Decision

The New Zealand dollar is steady on Tuesday. NZD/USD is trading at 0.6115, down 0.16% in the European session at the time of writing. The New Zealand dollar looked sharp last week against the slumping US dollar, climbing 0.88%. Reserve Bank expected to hold rates again The Reserve Bank of New Zealand is expected to […]
08/05/2024

Canadian Dollar Slips Despite Strong Ivey PMI

USD/CAD has edged higher on Wednesday and is up 0.25%, trading at 1.3760 at the time of writing. Canada’s Ivey PMI climbed sharply in April to 63.0, up from 57.5 in March and beating the forecast of 58.1. This marked the highest level since May 2022, indicating that purchasing managers have seen an improvement in […]