ECB Expects Growth to Resume in 2Q21. Yet, PEPP Tapering is Still Premature
As we have anticipated, the ECB left all monetary policy measures unchanged in April. Policymakers indicated the current pace (increased since March) of asset purchases in the PEPP would remain intact. Other monetary policy measures will stay unchanged with the...
US Open: Stocks Point to Quiet Start, Jobless Claims Beat
After strong gains in the previous session, Wall Street stocks are pointing to a muted open. Jobless claim unexpectedly fall and oil extends losses. US futures Dow futures -0.04% at 34112 S&P futures -0.1% at 4170 Nasdaq futures -0.24% at...
GBP/USD Outlook: Sterling Dips on Fresh Safe-Haven Dollar Buying
Cable accelerated lower on Thursday and broke pivotal Fibo support at 1.3879 (38.2% of 1.3669/1.4008 upleg), driven by stronger dollar on fresh safe-haven buying after India reported record number of new COVID cases, while better than expected US weekly jobless...
Euro Mildly Higher after ECB, But No Upside Breakout Yet
Euro rises mildly after ECB President Christine Lagarde sounded cautiously upbeat in the post-meeting press conference. Yet, there is no clear follow through buying for an upside breakout yet. Dollar is also not much supported by better than expected jobless...
Jobless claims fall again as employment picture gains strength
The U.S. jobs market recovery accelerated its pace last week as fewer Americans headed to the unemployment line, the Labor Department reported Thursday. First-time claims for unemployment insurance totaled 547,000, well below the Dow Jones estimate for 603,000 and a...
EURUSD Ticks Up Above SMAs, Bullish Bias
EURUSD is posting a strong upside rally after the bounce off 1.1700, holding for now above the 1.2000 psychological mark. Currently, the price is holding marginally beyond the 20-period simple moving average (SMA) and the RSI is ticking higher in...
Automakers show off flying cars in Shanghai — but Warren Buffett-backed BYD stays clear
Less than half a year since revealing a flying vehicle prototype, Chinese electric car start-up Xpeng unveiled a second model at the Shanghai auto show in April 2021. Evelyn Cheng | CNBC SHANGHAI – Flying cars may have made headlines...
Euro Mixed Ahead of ECB, Dollar Sellers Await Stock Rally
Canadian Dollar surges broadly overnight after BoC’s hawkish tapering. Yet, it’s currently still one of the weakest for the week together with Dollar. The post-meeting buying was not enough to turn the Loonie into black against others yet. As for...
Fed Monitor: Too Early for the Outcome-Based Fed to Change Rhetoric
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. Contact...
BOC Tapers QE Program and Delivers Upbeat Economic Outlook
As we have expected, the BOC delivered a hawkish tapering of QE purchases in April. the weekly asset purchases will reduce to CAD3B/week, from CAD4B/week previously. Meanwhile, it also upgraded the economic assessments for both the country and the world....
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