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The U.S. Federal Reserve and Bank of Canada are both expected to cut policy rates on Wednesday, adding to 25 basis point reductions from each in September. Another reduction from the U.S. Federal Reserve is widely expected – the Fed’s policy rate is starting from a higher, more restrictive, level than other central banks after […]

The post Forward Guidance: BoC to Cut Before a Flat GDP Print for Canada in August appeared first on Action Forex.

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Fed Getting Closer to Cutting Rates? Inflation Weakens, but Risks Remain

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03/06/2024

Euro Area Inflation Beat Expectations

In focus today Today in the US, we get the May ISM Manufacturing index at 16.00 CET. Its PMI-counterpart released earlier shifted modestly higher, but the leading new orders indices still pointed towards muted growth. In Sweden, we get the manufacturing PMI for May at 08.30 CET. It is set to continue higher from last […]
11/01/2024

WTI Crude Oil Remains Within Descending Channel

WTI oil holds beneath 20-day SMA 200-day SMA looks like significant resistance WTI crude oil futures with delivery in February have been developing within a descending channel since the end of September. Currently, the market is holding beneath the 20-day simple moving average (SMA) and near the 72.00 number with strong resistance being the 74.25 […]
30/07/2024

GBP/USD Stalls as Bulls and Bears Clash Ahead of Central Bank Meetings

The GBP/USD pair is currently experiencing a standoff between bulls and bears, with the pair clinging to support at the 1.2850 level. The upcoming Federal Reserve and Bank of England policy meetings are adding to market uncertainty, with the odds of a BoE rate cut hovering around 58%. UK Finance Minister Rachel Reeves has announced […]