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Gold skyrocketed since Monday’s opening ($3333) and hit $3500 on Tuesday morning, advancing 5% in slightly more than 24 hours. It seems that rally since the start of the year is unlikely to slow but continues to accelerate (gold was up around 33% from January 1 until today) as conditions continue to deteriorate that fuels […]

The post Gold Surges to $3500 appeared first on Action Forex.

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25/04/2024

ECB’s Schnabel identifies services inflation as primary concern

ECB Executive Board Member Isabel Schnabel acknowledged that the consensus that the path to disinflation is proving to be “quite bumpy,” especially as the process is in its “last mile”. The “biggest concern” is the persistent inflation within the services sector, which remains stubbornly high. Schnabel emphasized the importance of closely monitoring unit labor costs. […]
12/03/2024

US CPI in the Limelight

In focus today The most important release of the day will be the US February CPI. We look for both headline and core CPI to come out at +0.3% m/m SA, slightly below consensus forecast. Markets will focus on non-housing services inflation, which surprised to the upside in January, cooling expectations of rapid rate cuts. […]
26/03/2025

No April Fooling for RBA – Rates on Hold This Meeting

The RBA was too hawkish in its rhetoric last month to consider a cut at this meeting. The labour market, wages, consumption and trimmed mean inflation are all crucial for the path beyond that. We are sufficiently confident that the RBA will keep rates on hold on 1 April that I will be writing my […]