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In focus today Tonight, FOMC will release the minutes from its September meeting. Markets will focus on any clues regarding the expected size of rate cuts aat the coming meetings. Economic and market news What happened overnight The Reserve Bank of New Zealand (RBNZ) lowered interest rates by 50bp from 5.25% to 4.75%, which was […]

The post Swedish CPI Slightly Higher Than Expected – Supports Our -25 bp Call for November appeared first on Action Forex.

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15/06/2024

Housing and Retail Sales Data to Show Canadians Continue to Hold Back

Economic data in the week ahead should show further softening in Canadian (per-person) household spending before the Bank of Canada pivoted to lower interest rates in June. Early reports from regional real estate boards suggested housing markets were in a holding pattern in May. Home resales edged lower in most regions including Toronto, Vancouver, and […]
05/09/2024

Loss of Interest Rate Support Weighed on Dollar

Markets Yesterday’s JOLTS report was yet another perfect illustration of market’s high sensitivity to the labour market since Fed chair Powell bombarded it to the single most important theme for policy. July Job openings in the US tumbled from a downwardly revised 7.94 mln to 7.67 mln, undershooting consensus by about 400k. Resisting the urge […]
17/01/2024

EURUSD Short Term Looking for Further Downside

Short term Elliott Wave View suggests $EURUSD ended wave 1 rally at 1.11395. Pair is now doing wave 2 pullback to correct cycle from 10.03.2023 low. Wave 2 subdivides into a zigzag Elliott Wave structure. Zigzag is a 5-3-5 structure with ABC as the label. Wave A and C in zigzag subdivide into 5 waves […]