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U.S. Highlights In a widely expected move, the Federal Reserve held the policy rate steady in the target range of 5.25%-5.5%. FOMC participants now expect fewer rate cuts this year, with the median projection showing just one cut by year-end (previously three). Consumer Price Index (CPI) inflation came in weaker than expected in May, with […]

The post The Weekly Bottom Line: The Data Will Light the Way appeared first on Action Forex.

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22/05/2024

Bank of England – Revised BoE Call – Hot Service Inflation Spells Trouble

On the back of continued strong inflationary pressures in the service sector, as evident in the April inflation print, we revise our BoE call. We now expect the first 25bp cut in August (prev. June). We expect quarterly cuts from August and through 2025, leaving the Bank Rate at 3.75% by the end of 2025. […]
11/09/2024

USDJPY Plummets to New 9-month Low

USDJPY confirms the bearish structure Next support at 140.20 Momentum oscillators keep moving negative USDJPY tumbled to a fresh nine-month low of 140.70 earlier today, boosting the bearish structure that started at the beginning of July. If the market ends the day below the 141.60 strong barrier, then the focus will shift to the 140.20 […]
19/07/2024

Market Analysis: Gold Price and Crude Oil Price Correct Recent Gains

Gold price started a downside correction from $2,485. Crude oil prices are also moving lower from the $82.20 resistance zone. Important Takeaways for Gold and Oil Prices Analysis Today Gold price climbed higher toward the $2,485 zone before there was a pullback against the US Dollar. A key bearish trend line is forming with resistance […]