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The forex markets are treading water ahead of today’s FOMC decision. While the announcement typically acts as a volatility trigger, the lack of suspense surrounding this meeting could mean muted price action even after Chair Jerome Powell’s press conference. Markets are pricing in a near-certainty, 99% probability, that Fed will hold the policy rate steady […]

The post Calm in Currency Markets Ahead of Fed’s Fourth Straight Hold appeared first on Action Forex.

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Sterling Gains Slightly as UK Inflation Accelerates; Euro Struggles Despite Wage Surge
20/11/2024

Sterling Gains Slightly as UK Inflation Accelerates; Euro Struggles Despite Wage Surge

Sterling posted modest gains today after the UK reported stronger-than-expected rebound in headline inflation for October. More importantly, both core CPI and services price growth also increased, indicating that underlying inflation is gaining momentum. This resurgence in inflation diminishes the likelihood of BoE implementing another rate cut in December. Market expectations have adjusted accordingly, with […]
Euro Soft Awaiting Breakout; Bitcoin Rockets to New Highs
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Euro Soft Awaiting Breakout; Bitcoin Rockets to New Highs

Euro continues to trade on the softer side in an otherwise directionless market. Yet it’s holding above its low against Dollar, lacking sufficient momentum for a decisive breakout. Market participants and ECB policymakers are grappling with critical questions regarding the pace at which interest rates should be reduced towards neutral, and whether the terminal rate […]
Yen Rebounds on Ueda’s Openness; Euro Starting to Break Down

Yen Rebounds on Ueda’s Openness; Euro Starting to Break Down

Yen rebounded broadly today as market participants interpreted comments from BoJ Governor Kazuo Ueda as a potential signal for a rate hike in December. Ueda noted that there is still a month before the next policy meeting and that the central bank will have a substantial amount of data to consider by then. While he […]