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As expected, the ECB kept rates unchanged and did not provide new guidance. At the press conference, President Lagarde said that she stands by her earlier comments that rate cuts could come in the summer. We continue to expect the first cut in June, followed by two more 25bp cuts later this year, but acknowledge […]

The post Weekly Focus – No New Signals from Central Banks appeared first on Action Forex.

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09/05/2024

Bank of England Closing In On Rate Cuts

Summary The Bank of England (BoE) held its policy rate at 5.25% at today’s monetary policy announcement, but offered a dovish outlook that suggests rate cuts are now approaching. The BoE said restrictive monetary policy is weighing on activity in the real economy, is leading to a looser labor market and is bearing down on […]
22/07/2024

Market Analysis: GBP/USD Trims Gains While USD/CAD Rallies

GBP/USD started a pullback from the 1.3050 zone. USD/CAD is rising and might aim for more gains above the 1.3735 resistance. Important Takeaways for GBP/USD and USD/CAD Analysis Today The British Pound started a downside correction from the 1.3050 resistance zone. There is a key bearish trend line forming with resistance at 1.2940 on the […]
22/05/2024

Gold Price Primed To Extend Gains – Here’s Why

Key Highlights Gold started a fresh increase above the $2,420 resistance. A connecting bullish trend line is forming with support at $2,410 on the 4-hour chart. Oil prices are consolidating losses below $80.00. EUR/USD could aim for a steady increase above the 1.0885 resistance. Gold Price Technical Analysis Gold prices started a fresh increase above […]