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As widely expected and priced, today the RBNZ reduced the OCR by a further 25bps to 3.25%. The decision was reached following a 5 – 1 vote, with one MPC member voting for no change in policy. The revised projection indicates a baseline expectation of 1-2 further OCR cuts by the end of this cycle, […]

The post Review of RBNZ: Next Cut More Likely August Now Policy is Neutralish appeared first on Action Forex.

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26/03/2025

Elliott Wave View: CADJPY Looking to Rally in 7 Swing WXY Structure

Short Term Elliott Wave view in CADJPY suggests pair ended cycle from 11.20.2024 high in wave (W) at 101.35 as the 1 hour chart below shows. Pair is looking to correct cycle from 11.20.2024 high within wave (X). Internal subdivision of wave (X) is unfolding as a double three Elliott Wave structure. Up from wave […]
30/05/2024

US: Q1 GDP Revised Slightly Lower, But Details Show Domestic Economy Still Strong 

The second estimate of first quarter real GDP growth was revised down 0.3 percentage points (pp) to 1.3% quarter-over-quarter (annualized) – bang-on the consensus forecast. Looking under the hood, downward revisions to consumer spending, private inventory investment, and federal spending were partly offset by upward revisions to state & local government spending and fixed investment. […]
25/01/2025

Dollar’s Accelerated Decline and Indices’ Growth

The US dollar accelerated its decline against its major peers, losing almost 2% to 107.1 this week before trimming some losses. Fundamentally, behind the dollar’s corrective pullback is the resurgence of expectations that the Fed will cut its key rate once or twice later this year. We recall that in early January, markets were pricing […]