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Sterling surged notably today and reached its highest level against Dollar since March 2022. The move followed BoE’s decision to hold interest rates steady as expected. The surprise came from Deputy Governor Dave Ramsden, who chose not to vote for a rate cut. The overall tone from BoE suggests that while further rate cuts are […]

The post Sterling Gains on Cautious BoE, Investors Embrace Fed’s Message appeared first on Action Forex.

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No Fireworks After Fed Cut, Attention Turns to BoE

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China’s Rate Cut Meets Indifferent Markets, Canada CPI Takes Center Stage
20/02/2024

China’s Rate Cut Meets Indifferent Markets, Canada CPI Takes Center Stage

The financial markets are rather calm in Asian session today, while major currency pairs and crosses largely engage in a phase of consolidation. This tranquility comes in the wake of China’s surprising decision to significantly lower its mortgage reference interest rate, a move designed to provide a much-needed boost to the struggling property sector and, […]
Swiss Franc Declines Persist as DAX Hits New Heights, Aussie Awaits CPI
26/03/2024

Swiss Franc Declines Persist as DAX Hits New Heights, Aussie Awaits CPI

Risk-on sentiment is pressuring e Swiss Franc and, to a lesser extent, Yen and Dollar today. DAX soared to new record highs, undeterred by the latest weak German consumer sentiment data, while CAC and FTSE are also marking gains. Similarly, the CAC and FTSE indices are registering gains, with U.S. futures indicating a positive start […]
Aussie Rises Despite Sluggish Retail Sales, Boosted by Chinese Housing Measures
28/05/2024

Aussie Rises Despite Sluggish Retail Sales, Boosted by Chinese Housing Measures

Australian Dollar strengthened broadly in Asian session today, shrugging off lackluster retail sales data. Instead, Aussie is responding positively to Shanghai’s announcement of significant policy measures aimed at boosting the housing market. Yesterday, China’s commercial and financial hub declared it would relax home purchase restrictions and provide subsidies for new flat buyers. This move is […]