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Key insights from the week that was. As expected, the RBA delivered a 25bp rate cut on Tuesday, bringing the cash rate down to 4.10%. While the Board cited “welcome progress on inflation” as a determinant of the decision, communications were hawkish overall. In particular, the decision statement highlighted the Board’s caution over easing policy […]

The post Cliff Notes: Not Out of the Inflation Woods Just Yet appeared first on Action Forex.

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04/06/2024

GBPUSD Surges to Fresh 2-Month High

GBPUSD advances to its highest level since March 13 But the advance starts to look overstretched Momentum indicators approach overbought conditions GBPUSD has been in a steady recovery following its bounce off the 2024 bottom of 1.2298, with the price violating both the 50- and 200-day simple moving averages (SMAs). On Tuesday, the pair posted a […]
25/10/2024

USDCAD Still Near the Almost 3-Month High

USDCAD adds 3.4% from 1.3420 Remains well above the SMAs MACD and RSI indicate overbought levels USDCAD has been creating a notable bullish rally since the bounce off the 1.3420 support level, taking the price to an almost three-month high of 1.3868. The pair added 3.4% on this rally, trying to switch the medium-term outlook […]
24/02/2024

Sunset Market Commentary

Markets ECB members came out “en masse” today, resembling the recent push by the US central bank. Hawkish Austrian ECB Holzmann immediately pulled an interesting string. He supports our “sequence” call, stressing that he didn’t see any circumstances for the ECB to cut policy rates before the Fed. We’re on the same line, arguing that […]