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Yesterday was finally the day that most FX traders have been waiting for since at least a year: the day where the Bank of Japan (BoJ) gave a hint that it will finally exit its negative interest rate policy. Precisely, the BoJ Governor said, after his meeting with the Japanese PM – that handling of […]

The post The Day Has Come appeared first on Action Forex.

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30/11/2023

Canadian GDP declined in Q3

The pull-back in GDP in Q3 (-1.1% annualized) was substantially softer than expected, although following an upwardly revised 1.4% gain (previously -0.2%) in Q2. Still, the details of the Q3 data were soft – GDP would have declined a larger 3% in the quarter without a 7.3% jump in government spending. Business investment pulled back […]
06/09/2024

ISM Shows Services Sector Continued to Grow in August

The ISM Services index was virtually unchanged in August, coming in at 51.5 from 51.4 in July, and virtually in line with the 51.4 expected. Like last month, ten of 18 industries reported growth for the month. The business activity sub-index showed a slight deceleration in growth, but stayed in the black at 53.3, while […]
12/09/2024

ECB Expected to Cut Deposit Rate for Second Time This Year

Markets US yields finished 0.3 bps (30-yr) to 4.6 bps (2-yr) higher yesterday in a volatile session. The (trade-weighted) dollar approaches first resistance at 101.92/102 (101.68 close). EUR/USD came within striking distance of the 1.10 mark. For most of US trading hours, the key question was whether a small upward surprise in monthly US core […]