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The OCR remained at 5.5% as Westpac and the market had expected. The RBNZ’s projections for the OCR were revised 10bp higher to a peak of 5.69% in September 2024, implying around a 75% chance of a further 25bp rate hike. The projections imply a gradual easing of policy from the first half of 2025. […]

The post RBNZ Review: Talking Tough and Maybe Doing Something appeared first on Action Forex.

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14/02/2024

US: Progress on the Inflation Front Grinds to a Halt in January 

The Consumer Price Index (CPI) rose 0.3% month-on-month (m/m) in January, ahead of the consensus forecast calling for a more modest gain of 0.2%. CPI rose 3.1% year-over-year, down from 3.4% in December. Energy prices fell 0.9% m/m, largely driven by a pullback in prices at the pump (-3.3% m/m). Meanwhile, food prices (+0.4%) jumped […]
09/05/2024

WTI Crude Oil Wave Analysis

WTI crude oil reversed from support area Likely to rise to resistance level 80.00 WTI crude oil recently reversed up with the daily Hammer from the support area lying between the pivotal support level 77.00 (which has been reversing the price from February), lower daily Bollinger Band and the 61.8% Fibonacci correction of the upward […]
22/08/2024

WTI Futures Fall to a 7-Month Low

WTI futures drop to their lowest level since January 17 Momentum indicators are heavily tilted to bearish side  WTI oil futures (October delivery) have been in a steady retreat following their rejection at the 200-day simple moving average (SMA) in mid-August. On Wednesday, the price fell to a fresh seven-month low before finding its feet a tad above the […]