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Crude oil has been under pressure over the past four weeks but has been gaining support on the decline to $77 per barrel WTI and $82 per barrel Brent since the beginning of the month. The price has been consolidating in roughly the same area for over a month since the second half of February. […]

The post Oil Retreating But Unlikely to Repeat Collapses of 2020, 2014 or 2008 appeared first on Action Forex.

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26/01/2024

Markets Price Higher Probability of ECB Rate Cut in April

In focus today US December Private Consumption Expenditures (PCE) data will be released today. Strong holiday spending and modest inflation suggest that real consumption volume continued to grow at a solid pace. On the inflation side, consensus sees Core PCE inflation at +0.2% m/m SA (from +0.1%). We will get the December release of Norwegian […]
13/06/2024

Bank of Japan (BoJ) Preview: Potential Cut in Bond Buying to Aid Ailing Yen?

Hawkish FOMC adds further pressure on the BoJ as USD/JPY advances. Speculation builds that the BoJ will announce a more comprehensive cut to its bond buying programme. Fundamental Overview: FOMC Recap and BoJ Outlook The Japanese continued its slide this morning as USD/JPY edged higher toward the 160.00 psychological level. A brief respite yesterday for […]
06/09/2024

When the Rear-View Mirror is Foggy, Triangulate

Forecasting is hard when even the past does not stand still. Local markets were heavily focused this week on the June quarter national accounts. Our note (PDF 712KB) on the subject highlighted the key points. Foremost amongst these is that despite strong population growth, private sector demand is stagnant. Household consumption went backwards in the […]