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According to the Bank of Canada Business Outlook Survey (BOS), Canadian business sentiment remained unchanged and somewhat downbeat in the second quarter of 2024. The BOS indicator, a statistical summary of survey results, was -2.90 in 2024 Q2 (vs. -2.39% in 2024 Q1). Meanwhile, the share of firms preparing for a potential recession in the […]

The post BoC BoS: Business and Consumer Sentiment Remained Downbeat in the Second Quarter appeared first on Action Forex.

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02/04/2024

Australian Central Bank Meeting Removes Rate Hike Option – Minutes

The Reserve Bank of Australia minutes of the March meeting indicated that there was no mention of raising interest rates. This points to a less hawkish stance but the Australian dollar is unchanged following the release of the minutes. Reserve Bank drops reference to rate hike The RBA maintained the cash rate at 4.35% at […]
14/06/2024

NZD: A Few Swing Trade Ideas to Consider

The NZDUSD pair climbed to a peak of 0.6217 before settling at 0.6170. The pair has faced resistance around the 0.6220 level, with attempts to break through being unsuccessful. On the daily chart, the Relative Strength Index (RSI) is at 56 and trending downwards, indicating a slight drop in buying pressure. This is supported by […]
12/03/2024

US: Core Inflationary Pressures Were (Again) Hotter Than Expected in February 

The Consumer Price Index (CPI) rose 0.4% month-on-month (m/m) in February, in line with the consensus forecast. On a twelve-month basis, CPI inched up to 3.2% (from 3.1% in January). Energy prices rose 2.3% m/m, largely driven by an uptick in gasoline prices (+3.8% m/m). Conversely, food prices were flat on the month. Excluding food […]