In focus today In the euro area, focus is on the inflation print for January today. We expect HICP to decline to 2.8% y/y from 2.9% in December and core inflation to decline to 3.2% y/y from 3.4%. The prints from the individual countries we have received this week indicate that we are close to […]
The post Powell Pushes Back on Rate Cut Expectations appeared first on Action Forex.
UK retail sales volumes plunged by -0.7% mom in October, significantly underperforming expectations of a -0.3% mom decline. Also, volumes remained -1.5% below their pre-pandemic level in February 2020. On a broader basis, retail activity Read more…
Daily Pivots: (S1) 1.3944; (P) 1.3963; (R1) 1.3994; More… USD/CAD recovered after brief dip to 1.3930 and intraday bias stays neutral first. On the downside, break of 1.3930 will extend the corrective fall from 1.4104 Read more…
Daily Pivots: (S1) 0.6494; (P) 0.6514; (R1) 0.6530; More… AUD/USD is staying in consolidation from 0.6440 and intraday bias remains neutral. Outlook will stay bearish as long as 0.6687 resistance holds. On the downside, decisive Read more…