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WTI futures retreat below both 50 and 200-day SMAs Violate ascending channel in place since November Oscillators approach oversold conditions WTI oil futures (June delivery) had been in a steady uptrend since December, posting a fresh six-month peak of 86.90 on April 12. However, the price has been undergoing a pullback since then, dropping beneath both its 50- and […]

The post WTI Futures Break Below 200 Day-SMA appeared first on Action Forex.

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19/03/2024

Sunset Market Commentary

Markets The Bank of Japan’s first rate hike since 2007 that ended an 8-year experiment with negative rates remained talk of the town today. Ironically though, the Japanese yen nor yields profited from what is nevertheless a historical shift, quite the contrary. This morning’s policy outcome was telegraphed well in advance to markets and there’s […]
09/12/2023

Bank of England Preview – We Still Favour the Topside in EUR/GBP

We expect the Bank of England (BoE) to keep the Bank Rate unchanged at 5.25% on 14 December, which is in line with current market pricing.  Overall, we expect the MPC to stick to its previous guidance emphasising the “higher for longer” approach and pushing back on market pricing of rate cuts. We expect a […]
20/03/2024

UK Inflation Sets Up a Marathon for BoE

UK inflation has come in slightly weaker than expected, but this does not significantly bring the rate cut date any nearer. The CPI rose by 0.6% in February after a similar fall in January. Annual inflation slowed to 3.4% from 4.0%, vs expected 3.5%. Core CPI slowed its rise to 4.5% y/y in February after […]