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Wages growth has peaked and started declining. At current rates, even quite low productivity growth would be compatible with inflation being sustained at target. So why is the RBA so worried? The Wage Price Index increased 0.8% in the September quarter and 3.5% over the year. This was in line with our expectations but – […]

The post The Real Wage Overhang Hangover appeared first on Action Forex.

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28/12/2023

Rally in Stocks and the Selloff in US Dollar Looks Overstretched

The US bond and stocks extended their rally on the back of soft US economic data and another strong US bond auction. The US dollar fell sharply against most majors, allowing the euro, sterling, and the yen to extend gains into the year end. The rally in the sovereign space looks overdone, hence the rally […]
21/02/2024

Bank of Canada’s Policy Pirouette Not Yet Complete

Summary Canadian economic trends have been mixed, but softer on balance. GDP shrank in Q3 but appears to have rebounded in Q4. Still, given a softening labor market, modest growth in household income and rising interest rates, and a subdued outlook for business and investment spending, we expect Canadian GDP growth to slow moderately to […]
29/05/2024

WTI Oil: OPEC+ Likely to Keep Its Production Cut and Further Support the Price

WTI oil price rose further on Wednesday, extending advance into fourth straight day, following strong acceleration on Tuesday, which resulted in a daily gain of 2.1% and close above important barriers at $79.83/$80.00 (200DMA / psychological). Bulls cracked next pivot at $80.52 (Fibo 38.2% of $87.61/$76.13), with close above this level to validate bullish signal […]