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We expect the RBNZ will cut the OCR by a further 50bps to 4.25% at its November Monetary Policy Statement meeting. The RBNZ will likely indicate increased confidence that pricing and wage setting behaviour will quickly normalise now that annual CPI inflation is close to 2%. The RBNZ’s projections will likely suggest further OCR cuts […]

The post RBNZ Preview: Maintaining Pace Towards the Neutral Zone appeared first on Action Forex.

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19/08/2024

Attention Shifts to Fed’s Jackson Hole Symposium

Markets Last week’s US eco data failed to settle the debate on the outcome of the September FOMC meeting. Money markets initially added to 50 bps rate cut bets on slightly below consensus PPI numbers, but later on retraced somewhat after CPI showed continuing disinflation though in line with forecasts. Survey data (Empire Manufacturing), activity […]
01/07/2024

Forex and Cryptocurrency Forecast

EUR/USD: Inflation in the US – Everything is Going According to Plan Last week, specifically on Thursday, 27 June, the dollar received support from positive macroeconomic data from the US. The Department of Commerce reported that according to the final estimate, the US GDP grew by 1.4% in Q1, against the forecast of 1.3%. (According […]
14/03/2024

Canadian Dollar Seeks Opportunities for Growth

The USDCAD pair remains within a sideways range, with the Canadian dollar occasionally showing a tendency to strengthen. Recent DES data revealed that Canadian households have become more affluent. In Q4 2023, their “net” worth increased by 1.8%, or 300 billion Canadian dollars, smoothing out the decline seen in the previous quarter. This increase can […]