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Economic data in the week ahead should show further softening in Canadian (per-person) household spending before the Bank of Canada pivoted to lower interest rates in June. Early reports from regional real estate boards suggested housing markets were in a holding pattern in May. Home resales edged lower in most regions including Toronto, Vancouver, and […]

The post Housing and Retail Sales Data to Show Canadians Continue to Hold Back appeared first on Action Forex.

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07/05/2024

Australian Dollar Weakens as RBA Says No Rate Hikes Planned

The Australian dollar has lost ground on Tuesday. AUD/USD has dropped by 0.31%, trading at 0.6604 in the European session at the time of writing. RBA stays pat but wary of inflation There was no surprise as the Reserve Bank of Australia maintained the cash rate at 4.35% for a sixth straight time. The RBA […]
10/04/2024

US: Core Inflation Comes in on the Hotter Side for a Third Consecutive Month

The Consumer Price Index (CPI) rose 0.4% month-on-month (m/m) in March, in line with the consensus forecast. On a twelve-month basis, CPI inched higher to 3.5% (from 3.2% in February). Energy prices were driven higher by further gains in gasoline prices (+1.7% m/m) and electricity costs (+0.9% m/m). Food prices ticked up 0.1% m/m and […]
23/08/2024

All Eyes on Powell’s Jackson Hole Speech Today

In focus today The annual Jackson Hole Economic Policy Symposium organized by the Kansas City Fed continues today and runs until Saturday. Today markets pay the closest attention to the Fed chair Powell’s speech which is due at 16.00 CET. Markets pay close attention to Powell’s assessment of the current state and monetary policy, and […]