Contributors – Action Forex https://www.actionforex.com Live Forex Analysis, Currency Rates, Economic Calendar, Technical Forecast, Fundamental News, Free Trading Signals. Best. USD Dollar, EUR Euro, JPY Yen, GBP Pound, CHF Swiss Franc, CAD Canadian Dollar, AUD Australian Dollar, NZD New Zealand Dollar Wed, 19 Jun 2019 19:32:46 +0000 en-US hourly 1 https://wordpress.org/?v=5.2.2 FOMC Signals Rate Cuts Ahead https://www.actionforex.com/contributors/fundamental-analysis/209110-fomc-signals-rate-cuts-ahead/ https://www.actionforex.com/contributors/fundamental-analysis/209110-fomc-signals-rate-cuts-ahead/#respond Wed, 19 Jun 2019 19:32:46 +0000 https://www.actionforex.com/?p=209110 The FOMC acknowledges that uncertainties about the outlook have increased. We concur with the seven committee members that think rates will be 50 bps lower at the end of the year. FOMC Keeps Rates Unchanged But Sends a Dovish Message As widely expected, the Federal Open Market Committee (FOMC) decided at its meeting today to […]

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Fed Keeps Rates Steady, But Majority of Members See Cuts ahead https://www.actionforex.com/contributors/fundamental-analysis/209108-fed-keeps-rates-steady-but-majority-of-members-see-cuts-ahead/ https://www.actionforex.com/contributors/fundamental-analysis/209108-fed-keeps-rates-steady-but-majority-of-members-see-cuts-ahead/#respond Wed, 19 Jun 2019 19:09:16 +0000 https://www.actionforex.com/?p=209108 As expected, the Federal Open Market Committee (FOMC) decided to maintain the target range for the federal funds rate at 2.25-2.50%. The decision was not unanimous however, with Bullard dissenting in favor of a 25 basis point rate cut. However, FOMC officials did downgrade their assessment of current economic conditions. The statement still characterized the […]

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Fed Policymakers Losing Patience https://www.actionforex.com/contributors/fundamental-analysis/209106-fed-policymakers-losing-patience/ https://www.actionforex.com/contributors/fundamental-analysis/209106-fed-policymakers-losing-patience/#respond Wed, 19 Jun 2019 18:50:18 +0000 https://www.actionforex.com/?p=209106 As expected, the target range for the fed funds rate was held steady at 2.25-2.50% today The Fed’s median interest rate projections are now showing a rate cut by the end of this year – with 7 participants thinking two 25 basis point cuts will be appropriate The policy statement removed the reference to a […]

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Leadership Race Overshadows BoE https://www.actionforex.com/contributors/fundamental-analysis/209078-leadership-race-overshadows-boe/ https://www.actionforex.com/contributors/fundamental-analysis/209078-leadership-race-overshadows-boe/#respond Wed, 19 Jun 2019 18:00:31 +0000 https://www.actionforex.com/?p=209078 Central bank to play second fiddle in coming months It’s already been a quite a week for the UK, with leadership elections taking place as we continue to edge towards the final two that will face the Conservative membership to become the next Prime Minister. It’s not often that the Bank of England is overshadowed […]

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GBP/USD: Sterling Extends Recovery ahead of Fed https://www.actionforex.com/contributors/technical-analysis/209070-gbp-usd-sterling-extends-recovery-ahead-of-fed/ https://www.actionforex.com/contributors/technical-analysis/209070-gbp-usd-sterling-extends-recovery-ahead-of-fed/#respond Wed, 19 Jun 2019 15:51:08 +0000 https://www.actionforex.com/?p=209070 Cable accelerated higher in US trading on Wednesday, boosted by profit taking from last week’s fall and solid UK inflation data. The move can be also seen as positioning ahead of key event today, Fed rate decision, as wide expectations for keeping rates unchanged, may further inflate pound. Rising bullish momentum supports the advance, along […]

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Elliott Wave Analysis: AUDUSD Dropping Temporarily; 0.690 in View! https://www.actionforex.com/contributors/technical-analysis/209066-elliott-wave-analysis-audusd-dropping-temporarily-0-690-in-view/ https://www.actionforex.com/contributors/technical-analysis/209066-elliott-wave-analysis-audusd-dropping-temporarily-0-690-in-view/#respond Wed, 19 Jun 2019 15:48:47 +0000 https://www.actionforex.com/?p=209066 Aussie is dropping as expected from the 0.688 level where a temporary top for wave a)/i) of a three-wave move had been located. Current three-wave drop can now be labelled as wave b)/ii), with possible support, and turning point zone around the Fibonacci ratio of 50.0/61.8. A rally above the current high would suggest more […]

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BoE Meets But Pound’s Focus on Next UK Prime Minister https://www.actionforex.com/contributors/fundamental-analysis/209058-boe-meets-but-pounds-focus-on-next-uk-prime-minister/ https://www.actionforex.com/contributors/fundamental-analysis/209058-boe-meets-but-pounds-focus-on-next-uk-prime-minister/#respond Wed, 19 Jun 2019 15:04:41 +0000 https://www.actionforex.com/?p=209058 The Bank of England will announce its latest policy decision on Thursday at 1100 GMT and is widely anticipated to hold rates at 0.75%. Ahead of the BoE’s announcement, retail sales numbers for May will be watched at 0830 GMT. But with recent remarks by BoE policymakers reaffirming the Bank’s tightening bias, the June meeting […]

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BoJ Meeting: Opening the Door for More Stimulus? https://www.actionforex.com/contributors/fundamental-analysis/209054-boj-meeting-opening-the-door-for-more-stimulus/ https://www.actionforex.com/contributors/fundamental-analysis/209054-boj-meeting-opening-the-door-for-more-stimulus/#respond Wed, 19 Jun 2019 15:02:44 +0000 https://www.actionforex.com/?p=209054 The Bank of Japan (BoJ) will conclude its meeting early on Thursday, and while no action is expected, the yen may still tumble a little if the central bank hints it could add more stimulus going forward. In the bigger picture though, the outlook for the currency seems to be brightening as both the Fed […]

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Brent Crude – Steady as OPEC Confirms Meeting Fate https://www.actionforex.com/contributors/fundamental-analysis/209051-brent-crude-steady-as-opec-confirms-meeting-fate/ https://www.actionforex.com/contributors/fundamental-analysis/209051-brent-crude-steady-as-opec-confirms-meeting-fate/#respond Wed, 19 Jun 2019 14:56:37 +0000 https://www.actionforex.com/?p=209051 OPEC to meet after G20 OPEC’s website this morning confirmed that it’s meeting will take place a few days later than initially planned, with it now seemingly penned in for 1 and 2 July, the latter of which will include allies including Russia. The decision to delay the meeting may well relate to the G20 […]

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Sunset Market Commentary https://www.actionforex.com/contributors/fundamental-analysis/209049-sunset-market-commentary-338/ https://www.actionforex.com/contributors/fundamental-analysis/209049-sunset-market-commentary-338/#respond Wed, 19 Jun 2019 14:28:26 +0000 https://www.actionforex.com/?p=209049 Markets Attention obviously turns to the FOMC meeting tonight. Fed Chair Powell stated in March that sustaining the US economic expansion is the Fed’s overarching goal. We expect the new reaction function of the Fed to reflect that stance. Instead of saying that the next rate move could occur in either direction, Powell will probably […]

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GBP/JPY Triggers Corrective Recovery Nearer Term https://www.actionforex.com/contributors/technical-analysis/209038-gbp-jpy-triggers-corrective-recovery-nearer-term/ https://www.actionforex.com/contributors/technical-analysis/209038-gbp-jpy-triggers-corrective-recovery-nearer-term/#respond Wed, 19 Jun 2019 14:07:58 +0000 https://www.actionforex.com/?p=209038 GBPJPY triggers corrective recovery nearer term as we expect more gain in the days ahead. On the downside, support comes in at the 136.00 level where a violation will aim at the 135.50 level. A break below here will target the 135.00 level followed by the 134.50 level. Conversely, resistance is seen at the 137.00 […]

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USD/CAD Outlook: Loonie Rose on Upbeat Canada’s CPI Data https://www.actionforex.com/contributors/technical-analysis/209035-usd-cad-outlook-loonie-rose-on-upbeat-canadas-cpi-data/ https://www.actionforex.com/contributors/technical-analysis/209035-usd-cad-outlook-loonie-rose-on-upbeat-canadas-cpi-data/#respond Wed, 19 Jun 2019 14:05:13 +0000 https://www.actionforex.com/?p=209035 The pair dipped on Wednesday, extending bearish acceleration from the previous day, after bulls were trapped above daily cloud top. Upbeat Canada’s inflation data (May CPI y/y 2.4% vs 2.1% f/c; 2.0% prev) showed the highest levels in seven months that is signal for the central bank to hold off on cutting interest rates. Fresh […]

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Inflation Jumps in Canada, on Relatively Broad-Based Price Growth https://www.actionforex.com/contributors/fundamental-analysis/209033-inflation-jumps-in-canada-on-relatively-broad-based-price-growth/ https://www.actionforex.com/contributors/fundamental-analysis/209033-inflation-jumps-in-canada-on-relatively-broad-based-price-growth/#respond Wed, 19 Jun 2019 14:04:04 +0000 https://www.actionforex.com/?p=209033 Consumer price surprised on the upside in May, rising to 2.4% year-on-year (from 2.0% in April). Month-on-month, seasonally adjusted prices were up 0.3%, the same gain as in April. Gains were broad-based with all sub-categories rising on the month. For once energy was not central to the story. Energy prices were down 0.1% from a […]

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FX Handover: Canadian CPI boots CAD ahead of FOMC https://www.actionforex.com/contributors/fundamental-analysis/209029-fx-handover-canadian-cpi-boots-cad-ahead-of-fomc/ https://www.actionforex.com/contributors/fundamental-analysis/209029-fx-handover-canadian-cpi-boots-cad-ahead-of-fomc/#respond Wed, 19 Jun 2019 14:03:05 +0000 https://www.actionforex.com/?p=209029 GBP has been the strongest so far on the day ahead of the BoE rate decision tomorrow after a slight beat in UK core CPI and as Boris Johnson softened his tone towards Brexit CAD higher after Canadian Median CPI rose to 2.1% from 1.9% year-over-year. The headline CPI month-over-month figure printed 0.4% vs. +0.1% […]

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On-Target Inflation Means Less Pressure on BoC https://www.actionforex.com/contributors/fundamental-analysis/209013-on-target-inflation-means-less-pressure-on-boc/ https://www.actionforex.com/contributors/fundamental-analysis/209013-on-target-inflation-means-less-pressure-on-boc/#respond Wed, 19 Jun 2019 12:59:17 +0000 https://www.actionforex.com/?p=209013 Headline inflation was stronger than expected, rising to 2.4% in May BoC core measures averaged 2.1% (had been 1.9-2.0% for past 15 months) Most major components—particularly food and transportation—showed a pickup in y/y inflation Today’s stronger-than-expected inflation data will still be overshadowed by this afternoon’s Fed meeting. The US central bank is under increasing pressure […]

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USD/CAD – Loonie Takes Flight after Inflation Data https://www.actionforex.com/contributors/fundamental-analysis/209010-usd-cad-loonie-takes-flight-after-inflation-data/ https://www.actionforex.com/contributors/fundamental-analysis/209010-usd-cad-loonie-takes-flight-after-inflation-data/#respond Wed, 19 Jun 2019 12:57:46 +0000 https://www.actionforex.com/?p=209010 Canada MAY CPI M/M: +0.4% vs. +0.1%e; Y/Y: +2.4% vs. +2.1%e CPI Core- Median Y/Y: +2.1% vs. +1.9%e CPI Core- Common Y/Y: +1.8% vs. +1.9%e CPI Core- Trim Y/Y: +2.3% vs. +2.1%e (highest since Feb. 2012) Consumer Price Index: 136.6 v 136.2e Data from Stats Canada showed Canada’s annual inflation rate climbed in May, driven […]

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GBP/JPY Traders’ Focus Turn To BoE, BoJ And BoJo https://www.actionforex.com/contributors/fundamental-analysis/208999-gbp-jpy-traders-focus-turn-to-boe-boj-and-bojo/ https://www.actionforex.com/contributors/fundamental-analysis/208999-gbp-jpy-traders-focus-turn-to-boe-boj-and-bojo/#respond Wed, 19 Jun 2019 12:04:48 +0000 https://www.actionforex.com/?p=208999 We have covered the US dollar and the FOMC’s upcoming rate decision extensively so far this week, so I thought why not share some thoughts on a non-dollar currency pair today. While there are a few candidates that I could have looked at, the GBP/JPY is the one that has stood out to me – […]

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European Update – Markets Poised For Fed Showdown https://www.actionforex.com/contributors/fundamental-analysis/208994-european-update-markets-poised-for-fed-showdown/ https://www.actionforex.com/contributors/fundamental-analysis/208994-european-update-markets-poised-for-fed-showdown/#respond Wed, 19 Jun 2019 11:59:41 +0000 https://www.actionforex.com/?p=208994 Optimism ahead of Fed decision The Fed meeting on Wednesday promises to be the highlight of the week, particularly in light of the events of the last 24 hours. Between Trump announcing that he will hold a prolonged meeting with Xi next week, piling more pressure on the Fed to cut rates and criticizing the […]

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Markets Await Fed, Dollar Slightly Softer On Light Volumes https://www.actionforex.com/contributors/fundamental-analysis/208990-markets-await-fed-dollar-slightly-softer-on-light-volumes/ https://www.actionforex.com/contributors/fundamental-analysis/208990-markets-await-fed-dollar-slightly-softer-on-light-volumes/#respond Wed, 19 Jun 2019 11:57:24 +0000 https://www.actionforex.com/?p=208990 The Fed’s current policy has lost effectiveness and at the end of what will be the longest US economic cycle in history, the FOMC is expected to announce the beginning of an easing cycle. US equity futures are hovering from a stone’s throw from fresh record high as the Fed concludes their two-day policy meeting. […]

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Dollar Ready For Next Move After Fed Decision https://www.actionforex.com/contributors/fundamental-analysis/208981-dollar-ready-for-next-move-after-fed-decision/ https://www.actionforex.com/contributors/fundamental-analysis/208981-dollar-ready-for-next-move-after-fed-decision/#respond Wed, 19 Jun 2019 10:46:05 +0000 https://www.actionforex.com/?p=208981 Wednesday June 19: Five things the markets are talking about The dollar is largely unchanged overnight against G10 currencies as investors await central bank meetings, including the conclusion of the Fed’s two-day meeting later today. Markets are entering uncharted waters, sovereign yields trade atop of year lows, equities looking to breach new highs now that […]

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