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Consumer prices rose by 0.5% in the December quarter, leaving them up 4.7% over the past year. The December result was in line with our forecast, but below the RBNZ’s expectation. Consumers Price Index, December quarter 2023 Quarterly change: +0.5% Westpac forecast: +0.5%, RBNZ (Nov MPS): +0.8% Market median: +0.5%, range +0.3% to. +0.8% Annual […]

The post NZ First Impressions: Consumers Price Index, December Quarter 2023 appeared first on Action Forex.

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21/03/2024

Pound Edges Lower Ahead of BoE Meeting

The British pound is slightly lower on Thursday. In the European session, GBP/USD is trading at 1.2766, down 0.16%. BoE expected to hold rates The markets will shift focus from the Federal Reserve, which maintained rates on Wednesday, to the Bank of England, which is holding its rate meeting later today. The BoE is widely […]
31/07/2024

USD/JPY Technical: JPY Strength Halted Right at 151.70 Support as BoJ Hiked Interest Rate. What’s Next for JPY?

BoJ hiked its overnight interest rate to 0.25% and announced its “Quantitative Tightening” plan, without much major surprises. USD/JPY sold off but still hovering above its 151.70 key short-term support. Cannot rule out the possibility of another minor mean reversion rebound in USD/JPY before a bearish impulsive down move sequence unfolds with next medium-term support […]
15/08/2024

U.S. retail sales starts third quarter on an upbeat note 

Retail sales rose 1.0% for the month of July. That was much higher than the consensus forecast calling for a more moderate increase of 0.4%. However, June’s figure was revised downward to -0.2% month/month (previously flat). Trade in the auto sector was up 3.6% m/m, as the increase at motor vehicle dealers (4.0%) was partially […]