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Summary The January CPI data came in hotter than expected and did little to give the FOMC the “greater confidence” it needs to start imminently cutting rates. Gasoline prices declined for the fourth month in a row, but an outsized jump in energy services and food prices tempered any enthusiasm from the decline in fuel […]

The post January CPI: A Great Disservice appeared first on Action Forex.

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06/12/2023

USDCAD Slows Down Before BoC Rate Decision

USDCAD halts near last week’s limits Bias remains skewed to the downside BoC policy announcement awaited USDCAD opened with mild losses on Wednesday after Tuesday’s remarkable rally stalled near last week’s resistance of 1.3593. Traders were also in a wait-and-see mode ahead of the Bank of Canada’s rate decision at 15:00 GMT. The 1.3593 bar […]
19/09/2024

FOMC’s Normalisation Cycle Begins

50bps delivered and another 50bps seen by year end by the FOMC. At the September meeting, the FOMC decided to cut by 50bps to begin their policy normalisation cycle. The Committee projects another 50bps of cuts to end-2024 (over two meetings), another 100bps of cuts in 2025, then a final 50bps in 2026, leaving the […]
05/07/2024

Elliott Wave Expects EURUSD to Turn Higher

Short Term Elliott Wave in EURUSD suggests cycle from 4.16.2024 low is in progress as a 5 waves impulse. Up from 4.16.2024 low, wave 1 ended at 1.0916. Pullback in wave 2 ended at 1.0664 as the 1 hour chart below shows. Pair has turned higher in wave 3. However, it still needs to break […]