ONLINE FOREX BROKER
2022-09-08 • Updated
"When I spoke at the Anika Foundation event last year, CPI inflation in Australia had been below 2 percent for a number of years and, in underlying terms, was just 1.6 percent. Today, CPI inflation has risen to 6.1 percent, and underlying inflation is 4.9 percent. These are the highest rates in many years." - Lowe.
Speaking at the Anika Foundation Fundraiser in Sydney, the governor of the Reserve Bank of Australia revealed that the current discrepancies between the annual inflation forecasts and the actual values have caught everyone by surprise. Last year, the RBA forecasted 2022 inflation rates to be just 1.75%, whereas so far this year, there are reasons to expect 7.75% CPI inflation rates - a big forecast miss! To counteract this, Mr. Lowe has established the need for the RBA to continue hiking interest rates in hopes of reaching the flexible inflation rate targets. He made it clear, however, that the pace of hikes would be much slower.
As we expect continued hikes in interest rates from the RBA and forecasted increases in unemployment rates by the national statistical office of Canada (to be released Friday, 09th September), fundamental factors seem to support a bullish correction on AUDCAD. Technically speaking, the market is trading close to the Daily Support at 0.87922 and has retested a major trendline from 2020.
The Daily Support zone between 1.11008 and 1.10750 is already within reach of the current price action on AUDNZD, and offers the Moving Average 50 and a major trendline as a confluence(img.02)
The major trendline aside, price is also trading between the daily support zone at 0.67399 & 0.66633, thus increasing the chances of a bullish correction, possibly back to the 50-MA or even higher.
Hey guys, this is the last full trading week in May, and many forward-looking individuals like myself are already preparing themselves to seize whatever opportunities June may have in store. On this note, I will review a few commodities that have satisfied my quest for swing-trading opportunities in the coming month. Follow me!
The Bank of England (BoE) has dramatically shifted its economic forecasts. They no longer expect a recession in the UK and have upgraded their growth projections. This year, the BoE predicts GDP growth of +0.25%, a significant improvement from previous expectations. Next year's forecast is even more optimistic, with a projected growth of 0.75%.
Here's the scoop: The Bank of England (BOE) is set to accelerate the pace at which it shrinks its balance sheet, according to one of its deputy governors. Currently, the BOE is unwinding about £20 billion of quantitative easing every three months. The goal is to reduce the stock by around £80 billion per year through active sales and maturing assets.
Let's dive into the latest developments shaping the global economic landscape. Good news first: the threat of an unprecedented US debt crisis has receded, as US lawmakers passed a bill to raise the debt ceiling and avoid a catastrophic default. Phew! But don't pop the champagne just yet, because storm clouds are still looming. High inflation, rising interest rates, and sluggish growth are challenges that have yet to disappear.
Thanks to the incredible advancements in horizontal drilling and fracking technology, the United States has experienced a mind-blowing shale revolution. They've become the heavyweight champion of crude oil production, leaving Saudi Arabia and Russia in the dust. They even turned the tables and became net exporters of refined petroleum products in 2011.
Let's dive into the world of gold. Currently, the price of gold, represented by XAUUSD, is stuck in indecision, hovering around the $1,975 mark. The market is anxiously awaiting two important factors: the release of the Federal Reserve's meeting minutes and the extension of the US debt ceiling.
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