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The Bank of Canada maintained the overnight rate at 5.0%, while stating that it will continue with Quantitative Tightening (QT). The Bank highlighted the slowing in economic momentum stating, “economic growth stalled through the middle quarters of 2023 (and that) higher interest rates are clearly restraining spending”. The Bank also noted that the labour market […]

The post Slowing Economy Keeps Bank of Canada On Hold in December   appeared first on Action Forex.

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22/12/2023

GBP: Retail Sales Likely to Calm GBP

The Bank of England (BoE) is facing criticism for being slow to respond to the marked decline in UK price growth. The latest official data revealed a significant drop in consumer price growth to 3.9% in November, down from 6.7% in September. This unexpected decrease has prompted market reactions, with investors betting that the BoE […]
19/06/2024

UK Inflation Back at 2% But Services Inflation Remains a Concern, GBP/USD Rises

UK Inflation Rate: UK Inflation Rate YoY reaches 2% yet services inflation poses a challenge. UK Core Inflation Rate YoY 3.5% down from a previous print of 3.9%. GBP/USD rises as 1.2750 resistance area beckons. The Bank of England (BoE) will likely have mixed feelings this morning following the release of the May inflation report. […]
06/12/2023

Sunset Market Commentary

Markets Today’s US ADP job report served as the next test for markets eager to frontrun a sharp Fed pivot. November employment grew by 103k, less than the 130k expected and a further deceleration from an already downwardly revised 106k. The biggest contributors were trade, transportation and utilities (+55k) & education and health services (+44k). […]