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As was widely expected, the RBA Board left the cash rate on hold at its late-March meeting, at 4.35%. The language of the media release and press conference confirms that the Board is most likely on hold for a while yet. As was widely expected, the RBA Board left the cash rate on hold at […]

The post RBA on Hold, Ruling Nothing In or Out appeared first on Action Forex.

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30/08/2024

BoC to Cut Rates Again Ahead of Pivotal U.S. Employment Report

We expect another 25-bps cut to the overnight rate (to 4.25%) from the BoC meeting next week to build on cuts already delivered in each of the prior two meetings in June and July. Comments from Governor Macklem will likely again err on the dovish side, continuing to emphasize a softening economic backdrop that makes […]
25/05/2024

Could Developments in Iran and Saudi Arabia Turn the Tide for Oil?

Iran is still quiet about reasons behind the helicopter accident Saudi Arabia’s King health scare turns focus on Crown Prince Oil still under pressure; a new catalyst could reverse the recent trend Iranian Presidential elections to be held on June 28 News of the helicopter accident, which resulted in the loss of several senior Iranian […]
09/09/2024

More Volatility: Yes. More Certainty on Fed: No

Markets More volatility: yes. More certainty on the outcome of next week’s Fed meeting: no. Friday’s nonfarm payrolls couldn’t settle the rate cut size debate (25 bps vs 50 bps). The forecasted decline in the US unemployment rate, from 4.3% to 4.2%, failed to break the real-time recession indicator (Sahm rule) that rang all the […]