Wti Crude Oil Under Pressure with US NFP in Sharp Focus

Our summary of recent economic events and what to expect in the weeks ahead. Canadian Highlights The Bank of Canada left rates unchanged at 2.25% but struck a more constructive tone on the near-term economic outlook, projecting a sharp rebound in Q2 growth. Inflation remains the key source of uncertainty, though the removal of references […] The post The Weekly Bottom Line: Cooler Inflation Quiets Calls for a July Hike appeared first on ActionForex.

With Warsh’s second FOMC meeting approaching, we expect the Fed to remain on hold while maintaining a modest tightening bias. Next week’s PCE report will either reinforce or challenge that view, though we continue to expect slightly cooler inflation. We also expect Q2 GDP growth to moderate from Q1, despite continued economic resilience. In Australia, […] The post Economics Week Ahead appeared first on ActionForex.

Another month of recovery is in the cards for Canada’s economy next Friday where we expect to see a 0.2% increase in GDP data for May (more details below), but the outlook is once again clouded by the latest bout of U.S. tariff threats that suggest the path ahead could be bumpier. Just how bumpy […] The post Six Takeaways for Canada from Latest U.S. Tariff Threats; GDP Likely Rose Again in May appeared first on ActionForex.

US business activity accelerated at the start of the third quarter, with S&P Global’s Flash Composite PMI Output Index rising from 51.9 to 53.6 in July, its highest level in eight months. The improvement was driven by the services sector, where the Business Activity Index climbed from 51.2 to 53.6, also an eight-month high. Manufacturing, […] The post US PMI Hits Eight-Month High,Yet Rising Costs and Supply Delays Raise Caution appeared first on ActionForex.

Fed decision in focus as markets price in more US rate hikes Middle East tensions, oil rally, and tariffs reignite inflation fears BoE and BoJ meetings could drive sterling and yen volatility Big Tech earnings to test Wall Street sentiment Middle East and Trump’s tariffs revive inflation fears The US dollar gained against the other […] The post Week Ahead – Fed, BoE and BoJ Face Inflation Test as Markets Reprice Interest Rate Paths appeared first on ActionForex.

Currency markets are heading into the weekend in a cautious mood, with traders reluctant to take large directional positions ahead of what could prove to be a defining 48 hours for global markets. Dollar is ending the week broadly firmer but has been unable to force a convincing breakout against Euro despite another rise in […] The post Markets Brace for Weekend Shock as Oil and Tariffs Threaten Global Recovery appeared first on ActionForex.

The Brent crude rally is a bigger ‘bearish’ factor for EURUSD than the ECB. The Fed may spring a surprise as early as July. The US dollar paid no heed to the ECB’s hawkish rhetoric and continued its advance against major global currencies, including the euro. The European Central Bank left its deposit rate at […] The post Dollar: Oil Leaves the Fed with No Choice appeared first on ActionForex.

USD/JPY soared to 163.81 on Friday, marking a new 40-year high. Repeated warnings of possible currency intervention have so far failed to halt the yen’s decline amid a broad strengthening of the US dollar. The market paid little attention to the Japanese Finance Minister’s statement that authorities are ready to take decisive action. Reports that […] The post USD/JPY Breaks Records: Nothing Slows the Yen’s Decline appeared first on ActionForex.

Market Overview Cryptocurrencies have been affected by jitters in traditional financial markets, losing 0.8% of their market capitalisation over the past 24 hours to $2.23T, dipping to a low of $2.21T at the start of active trading in Asia. The subsequent resumption of growth indicates that the upward trend remains intact and that market participants […] The post Crypto Shrugs Off a Stronger Dollar appeared first on ActionForex.

Markets The ECB is ready to raise rates in September, Bloomberg reported citing unnamed sources. Frankfurt kept rates steady yesterday but Lagarde admitted that some asked themselves if a hike should be considered. The ECB chair then pointed at the huge volume of data that’s inbound in the coming weeks, suggesting the discussion is more […] The post Sunrise Market Commentary appeared first on ActionForex.

UK retail sales volumes jumped 1.0% mom in June, far exceeding expectations for a -0.3% mom decline, following an unrevised 1.2% mom increase in May. The stronger-than-expected performance points to resilient consumer demand despite elevated borrowing costs and persistent cost-of-living pressures. Retailers credited sales promotions and warm weather for boosting spending, particularly at online and […] The post UK Retail Sales Surge 1.0% mom as Online Spending Leads Broad-Based June Rebound...

Germany’s GfK Consumer Climate edged down from -29.3 to -29.6 for August, highlighting that household confidence remains deeply depressed despite modest improvement in some underlying indicators. The slight deterioration was driven by weaker income expectations and a renewed rise in precautionary saving, offsetting gains in willingness to buy and economic expectations. Income expectations fell from […] The post Germany’s GfK Consumer Climate Slips to -29.6 as Income Outlook Weakens and Saving...