Logo-color Logo-white

The main release this week was euro area inflation from May. Inflation rose to 2.6% y/y from 2.4% in April, which was above expectations of 2.5%. The increase in inflation was due to core inflation rising to 2.9% y/y from 2.7% on the back of very strong services inflation. Overall, the inflation in May confirmed […]

The post Weekly Focus – Strong Euro Area Inflation in May appeared first on Action Forex.

previous

U.S. Consumer Spending and Income Slow in April

next

Week Ahead – ECB Rate Cut Might Get Eclipsed by BoC Surprise and NFP Report

Read More

24/04/2024

Gold Technical: Is Bull Run Over After Worst Daily Decline in 2 Years?

The price actions of Gold (XAU/USD) have shaped the mean reversion decline after a test on the US$2,420 intermediate resistance. It tumbled by -2.7% on Monday, 22 April, its worst daily performance since 13 June 2022 (almost two years), and continued to extend its losses in yesterday’s (23 April) Asian session. So far, it has […]
16/04/2024

Higher Energy Prices Masked Another Downside Canadian Inflation Surprise in March

Canadian CPI growth ticked up to 2.9% year-over-year in March from 2.8% in the prior month, thanks to higher energy prices. Despite the rise, details in the report continue to point to price pressures broadly unwinding. Trends in food and energy inflation continue to diverge. Food CPI growth slowed further to 3% with grocery inflation […]
30/07/2024

CADJPY: Trade of the Week

The Canadian Dollar (CAD) weakened on Monday as it lagged behind the strengthening US Dollar ahead of the Federal Reserve’s rate decision. This week, the CAD is underrepresented on the economic calendar, making it susceptible to broader market movements and central bank appearances. Key data to watch includes Wednesday’s Canadian GDP for May, anticipated to […]