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Thank God! Yesterday’s inflation report from the US wasn’t worse than expected. The core PCE index showed that, yes, the monthly inflation rose at the highest pace in a year, but that the yearly figure eased from 2.9% to 2.8%. Both figures matched market expectations. As such, yesterday’s data hinted at inflation uptick in January, […]

The post The Inflation Puzzle appeared first on Action Forex.

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AUDUSD Retreats After Rejection at 200-day SMA

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10/06/2024

Elliott Wave Analysis: USD/CHF Bounces from the sSupport

USDCHF is coming higher this year, after breaking some important trendline connected from 2022 highs on a daily chart, where a breakout would lead to higher prices within big triangle range. Looking at the 4-hour chart, it looks like pair is in a higher degree corrective setback after a completed five-wave rally and broken trendline. […]
17/10/2024

Focus Turns to ECB

In focus today Focus today is on the ECB meeting, where we expect the ECB to deliver yet another rate cut of 25bp, bringing the deposit rate to 3.25%. Our expectations are supported by the recent weaker-than-anticipated growth indicators, as well as a decline in inflation. We expect that the ECB sticks to the ‘meeting-by-meeting’ […]
19/09/2024

Fed Delivers ‘Hawkish’ 50bp Rate Cut

In focus today Today we will focus on multiple central bank monetary policy meetings. Norges Bank (NB) will announce its rate decision at 10.00 CET followed by a press conference at 10.30 CET. We believe that NB will keep the policy rates unchanged, and signal that rates will be kept at that level for some […]