The Bank of Canada surprised markets and hiked rates by 50bps to bring the target rate to 3.75%, its highest since 2008. Markets were expecting an increase of 75bps. However, the central bank noted that although it is seeing encouraging signs that underlying inflation is coming down, it still expects that rates will need to […]
The post BOC Surprises Markets and Only Hikes 50bps appeared first on Action Forex.
In focus today In Sweden, flash CPI figures are set for release, with a decline expected due to the VAT reduction on food from 12% to 6%. CPIF excluding energy is forecast to fall to Read more…
Daily Pivots: (S1) 212.85; (P) 213.46; (R1) 214.39; More… GBP/JPY fell sharply after rejection by 55 4H EMA but stays above 210.43. Intraday bias remains neutral first. Further decline is expected as long as 214.21 Read more…
Daily Pivots: (S1) 183.92; (P) 184.35; (R1) 185.04; More… EUR/JPY’s breach of 182.28 suggests that consolidation from there has completed at 185.02, and fall from 187.93 is resuming. Intraday bias is back on the downside Read more…