Covid reared its ugly head again on economic data, which saw China’s service PMI contract at its fastest pace since the pandemic. Service sector activity in China was dragged lower due to the recent rise in COVID-19 cases and subsequent restrictions aimed at curbing the virus. Dropping from 50.2 to 42, China’s service PMI contracted […]
The post China’s Service PMI Gets Served, Base Metals Lower appeared first on Action Forex.
AUD/NZD plunged in the Asian session, driven by contrasting developments in Australia and New Zealand. However, it is too early to declare a bearish trend reversal for the cross, with near-term sideways consolidation likely. In Read more…
RBNZ delivered a widely expected 50bps cut to its Official Cash Rate, bringing it down to 4.25%. The central bank maintained easing bias, stating that if economic conditions align with projections, “the Committee expects to Read more…
Media release The Monetary Policy Committee today agreed to reduce the Official Cash Rate by 50 basis points to 4.25 percent. Annual consumer price inflation has declined and is now close to the midpoint of Read more…