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Friday’s abnormally strong jobs data resonated like a bomb across the financial markets. The US economy added 353’000 nonfarm jobs last month versus the consensus of around 185’000 new job additions. The average wage growth unexpectedly accelerated to 4.5%, and the unemployment rate remained steady at 3.7%. Here we are, finding ourselves with an NFP […]

The post What a Blast appeared first on Action Forex.

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15/08/2024

US CPI Backs Fed Rate Cut Expectations

It’s been two weeks since I left, and in that time, the markets plunged into chaos. Now that I’m back, things have finally returned to calm waters. Quick thoughts on the August meltdown The fact that the Japanese yen saw a heavy post-Bank of Japan (BoJ) reaction is of course due to the accumulation of […]
24/01/2024

NZ First Impressions: Consumers Price Index, December Quarter 2023

Consumer prices rose by 0.5% in the December quarter, leaving them up 4.7% over the past year. The December result was in line with our forecast, but below the RBNZ’s expectation. Consumers Price Index, December quarter 2023 Quarterly change: +0.5% Westpac forecast: +0.5%, RBNZ (Nov MPS): +0.8% Market median: +0.5%, range +0.3% to. +0.8% Annual […]
26/01/2024

USD/JPY Steady after Tokyo Core CPI Falls Below 2%

The Japanese yen is drifting on Friday. In the European session, USD/JPY is trading at 147.80, up 0.10%. Tokyo Core CPI falls to 1.6% Tokyo Core CPI reached a significant milestone today, falling to 1.6% y/y in January, after a December reading of 2.1%. This was the first time the indicator dropped below the Bank […]