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Yesterday’s US inflation report wasn’t exactly ideal. The headline inflation rose more than expected to 3.4% from 3.1% printed a month earlier. Shelter, electricity, and food prices drove the overall CPI index higher in December. Especially, the shelter costs increased by more than 6%. But if you don’t count food and energy price inflation, core […]

The post US CPI Bounce Goes Unheard, Focus on Bank Earnings appeared first on Action Forex.

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12/03/2024

GBP/USD Edges Lower, UK Employment Next

The British pound has started the trading week in negative territory. In the North American session, GBP/USD is trading at 1.2807, down 0.39%. The pound has posted six straight winning days and climbed 1.56% last week against the US dollar. UK employment expected to decelerate The UK releases the employment report on Tuesday. The labor […]
14/12/2023

Bank of England Hawks Extend the Pound’s Rally

The Fed’s dovish attitude, for now, hasn’t extended too far into Europe. The Bank of England kept its key rate unchanged at 5.25%, with three of the nine members voting in favour of a quarter-point hike. In a commentary on the decision, the Bank of England emphasised that it is not yet certain that inflation […]
29/07/2024

BTC/USD Analysis: Price Rises Following Trump’s Statements

In our analysis of the long-term BTC/USD chart on 22 July, we noted that: → From a long-term perspective, Bitcoin’s price is moving within an ascending channel (shown in blue); → On a shorter-term scale, the price has dropped from the upper to the lower boundary of the channel, forming a channel shown in red. […]