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Markets US Treasuries sold off yesterday after sticky February US CPI inflation data. Headline inflation accelerated from 0.3% M/M in January to 0.4% M/M with core inflation sticking at that 0.4% M/M pace for a second month running. The Fed’s so-called super-core inflation which zooms in on core services excluding shelter, rose by 0.5% M/M. […]

The post Risks for Next Week’s FOMC Meeting Seem Tilted to the Hawkish Side appeared first on Action Forex.

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04/01/2024

GBP/USD Posts Modest Losses Above the Mid-1.2600s Ahead of US ADP Report

GBP/USD clings to mild losses near 1.2665 on the firmer USD. Richmond Fed Barkin said the potential for additional rate hikes remains on the table. The fear of recession in the UK economy weighs on the British pound (GBP). Investors await the UK Composite PMI and the US ADP Employment Change. The GBP/USD pair posts […]
27/06/2024

XAG/USD: Silver Price May Fall More on Breach of Pivotal Supports

Near-term action remains in bearish mode and cracks first pivot at $28.65 (June 13 low), with pressure on nearby other key supports at $28.49 and $28.25 (Fibo 38.2% retracement of $26.00/$32.51/daily cloud base, respectively). Sustained break below $28.65/49 triggers to generate bearish signal on completion of failure swing pattern on daily chart/breach of pivotal Fibo […]
25/10/2024

Canadian Dollar Eyes Retail Sales

The Canadian dollar is showing little movement on Friday. In the European session, USD/CAD is trading at 1.3845 at the time of writing, down 0.07%. It has been a relatively quiet week for the Canadian dollar, and even an oversized 50-basis point rate cut from the Bank of Canada failed to shake up the Canadian […]