ActionForex.com was set up back in 2004 with the aim to provide insightful analysis to forex traders, serving the trading community for over a decade. Empowering the individual traders was, is, and will always be our motto going forward.
ActionForex.com was set up back in 2004 with the aim to provide insightful analysis to forex traders, serving the trading community for over a decade. Empowering the individual traders was, is, and will always be our motto going forward.
European Central Bank Delivers, Again
Summary In a widely anticipated monetary policy announcement, the European Central Bank (ECB) raised its Deposit Rate 50 basis points to 3.00%. In raising interest rates, the ECB said “inflation is projected to remain too high for too long.” Indeed, we observe the ECB projects headline and core inflation to remain above target over its […]
ECB Review: 50bp Hike, But No Guidance for May
As expected, the ECB hiked its three key policy rates by 50bp today and gave no indications for the coming rate path. The ECB communication clearly highlighted the number of risks prevailing to the economic and inflation outlook, but should the baseline prevail once the current turmoil subsides, more rate hikes may be needed. We […]
Cliff Notes: US and European Banking Sector Uncertainty to Limit Central Bank Actions
Key insights from the week that was. The US banking system was in the spotlight this week, with fragility emerging amongst the regional banks, shocking global interest rate expectations. Domestically, data received was broadly in line with our views on the economy. Beginning in Australia, the Westpac-MI Consumer Sentiment survey delivered yet another dismal update […]
ECB Determined to Fight Inflation Despite Market Turmoil
Market movers today Financial news and perhaps follow-ups to the ECB meeting yesterday will likely be the most important things to watch today. On the data side, we get the Michigan consumer confidence including inflation expectations in the US which the Fed has cited in the past, and also industrial production and capacity utilisation for […]
ECB Sticks to Inflation Fight, Hints that Fed Could Do the Same
The European Central Bank (ECB) decision yesterday was important as it offered a first indication of what the banking stress meant for the monetary policy. And it did not mean much – a relaxing news for markets. The ECB chose not to fan the banking worries and went ahead and announced a 50bp hike at […]
Cliff Notes: A Diverging Economic and Policy Outlook
Key insights from the week that was. With the domestic and international data calendar light, the actions and rhetoric of policymakers was the key focus for markets this week. While the RBA’s decision to deliver a 25bp rate hike in March was widely expected, the dovish guidance in the decision statement was a surprise to […]
US Jobs Growth in Focus
Market movers today The macro highlight today will be the February US jobs report. We expect nonfarm payrolls growth to moderate to 220k, after effects of warm weather and heavy seasonal adjustments in January fade. Overall, leading indicators suggest that labour market conditions have remained tight amid a recovering growth outlook. The FOMC blackout period […]
The Bank Rout
Thursday could’ve been a calm trading session. Especially given that after a deluge of strong economic figures concerning inflation and jobs, the little uptick in the US weekly jobless claims to above 200’000 for the first time since January – and which sent the US short-term yields tumbling – could’ve given some piece of mind […]
Even a Solid Payrolls Report Will be Overshadowed By 'Uncertainty on Financial Stability'
Markets Yesterday was supposed the be an interlude ahead of today’s payrolls with (higher than expected) US weekly jobless claims (211k from 190k) providing some ‘dovish’ distraction intraday. However, gradually the story of SVB financial, the owner of Silicon Valley Bank moved to the center as driver for US/broader markets. The group faces pressure on […]
Yen Slips after BoJ Maintains Policy Settings, US Nonfarm Payrolls Loom
The Japanese yen is trading at 1.36.83 in the European session, down 0.52%. USD/JPY fell 0.90% on Thursday but has recovered much of those losses today. Kuroda exits with a whimper Bank of Japan Governor Kuroda didn’t fire any final shots at his final meeting today. The BoJ maintained interest rates at -0.1%, where they […]
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