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The Australian dollar has extended its gains on Wednesday. AUD/USD is trading at 0.6271 in the European session, up 0.20% on the day. The Australian dollar jumped 0.75% on Tuesday, driven by the hawkish Reserve Bank of Australia minutes and a solid retail sales report. Australian GDP rises 1.3% Australia’s economy expanded by 1.3% y/y […]

The post Australian GDP Beats Forecast, Aussie Edges Higher appeared first on Action Forex.

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22/05/2024

GBP/USD: Cable Hits Two-Month High After Inflation Data

Cable rose to two-month high (1.2761) on Wednesday, after UK inflation data for April showed that prices pressure eased below expectations, hurting bets for BoE’s June rate cut. Fresh acceleration higher generates initial signal of bullish continuation after the price action held in a sideways mode in past two days and struggling to register a […]
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Mired in Uncertainty, Bank of Canada Cuts Again

The Bank of Canada cut its policy rate by 25 basis points as expected, but the focus of its commentary had less to do with its current assessment of the Canadian economy and much more on how to navigate an economy that potentially gets significantly knocked off course by U.S. tariffs. The BoC had a […]
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Pound Stabilizes as Shop Inflation Drops

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