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Market sentiment somehow improved on news that Donald Trump would ease auto tariffs by lifting some levies on imported auto parts, and to avoid aluminium and steel levies stacking up alongside the rest of the tariffs—probably as a marketing move as he gave a speech in Michigan marking his 100 days in office. As a […]

The post Soft Data, Dim Forecasts Put Fragile Optimism to the Test appeared first on Action Forex.

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Pound and Euro Edge Higher Ahead of Key Macroeconomic Data

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18/01/2024

OPEC Forecasts an Increase in Oil Demand in 2024

Yesterday, the monthly oil market review was published: → OPEC expects global oil demand to increase by 2.25 million barrels per day (b/d) in 2024, representing a 2.2% increase compared to 2023. → In 2025, OPEC predicts a demand increase of 1.85 million barrels per day, reaching 106.21 million barrels per day. It is anticipated […]
09/04/2024

First Impressions: NZIER Survey of Business Opinion, Q1 2024

Business confidence slumped in March, after a post-election bounce in December. Key results (seasonally adjusted) General business confidence: -23.7 (Previous: -9.9) Trading activity, past three months: -23.2 (Previous: +6.7) Trading activity, next three months: -11.5 (Previous: +6.6) % reporting a rise in operating costs over the past 3 months: 53.1 (Previous: 54.7) % who increased […]
19/07/2024

UK Jobs Data Cooled the Pound

The UK labour market is experiencing a cooling phase. The number of applications for unemployment benefits in June increased by 32.3K after a jump of 51.9K a month earlier. Prior to that, this indicator had been drifting for almost two years, adding an average of 2.5K per month. The rise in claimant count claims may […]