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The Bank of Canada cut the overnight rate to 4.75% (from 5.0%), while stating that it will continue with Quantitative Tightening (QT). The Bank spoke confidently about the economy, stating “economic growth resumed in the first quarter of 2024 after stalling in the second half of last year.” It highlighted that “consumption growth was solid […]

The post Bank of Canada Cuts Its Policy Rate to 4.75%! appeared first on Action Forex.

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08/04/2024

Gold Unlocks Fresh All-time High Again

Gold reaches 2,353.90 above 161.8% Fibonacci extension MACD and RSI move higher in overbought regions Gold prices are experiencing a fresh higher high today around the 2,353.90 level, successfully surpassing the 161.8% Fibonacci extension level of the downward move from 2,079 to 1,810 at 2,245. The bullish rally started after the rebound off the 1,984 […]
15/05/2024

Will Today’s CPI Echo the PPI Print?

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22/04/2024

EUR/GBP: Rallies for the second day as dovish comments from BoE officials deflate Pound

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