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Summary The July CPI report is likely to further the case that inflation is quieting down even if it has not yet returned all the way back to the Fed’s target. We look for headline CPI to have advanced 0.2% in July, which would keep the year-over-year rate steady at more than a three-year low […]

The post Remember Inflation? July CPI Preview appeared first on Action Forex.

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24/07/2024

Bank of Canada Cuts Policy Rate to 4.5%

The Bank of Canada cut the overnight rate to 4.50% (from 4.75%), while stating that it will continue with Quantitative Tightening (QT). The Bank outlined a relatively dovish take on the economy, stating that “…the economy’s potential output is still growing faster than GDP, which means excess supply has increased. Household spending, including both consumer […]
06/08/2024

Nikkei 225 Wave Analysis

Nikkei 225 reversed from support level 30600.00 Likely to rise to resistance level 35000.00 Nikkei 225 index recently reversed up from the key support level 30600.00, former support from the end of 2023. The support level 30600.00 was strengthened by the nearby 61,8% Fibonacci correction of the previous weekly uptrend from the start of 2023. […]
09/08/2024

GBPJPY Climb Continues

GBPJPY is edging higher today, recording another green session It remains around 10% below its recent peak Momentum indicators acknowledge this bullish reaction GBPJPY is edging higher again today, recording its third consecutive green candle and recovering by around 4% above its August 5 low. The market has settled down a bit following the recent rout, […]